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COURT APPROVES PROPOSED TRIARC SETTLEMENT

 WEST PALM BEACH, Fla., Jan. 11 /PRNewswire/ -- Triarc Companies, Inc. (NYSE: TRY) said that at a hearing today the United States District Court for the Southern District of Florida had approved the proposed settlement of an outstanding derivative action brought on behalf of Southeastern Public Service Company (PSE: SPV), against Triarc and certain current and former directors of Triarc and certain former officers and directors of Southeastern (SEPSCO).
 The settlement approved today calls for SEPSCO to be merged with, or otherwise acquired by, Triarc in a transaction in which each public shareholder of SEPSCO would receive in exchange for each share of SEPSCO common stock 0.8 of a share of Triarc's common stock.
 The two companies have signed a merger agreement to implement the settlement which was approved by the District Court today. Triarc currently owns 71 percent of SEPSCO and the merger agreement is subject to the approval by the holders of at least two-thirds of the outstanding SEPSCO shares not owned by Triarc.
 Triarc Companies recently changed its name from DWG Corporation. With sales of $1 billion, the company is in four businesses: Fast food (Arby's), soft drinks (Royal Crown Cola), textiles (Graniteville), and liquified petroleum gas (National Propane).
 -0- 1/11/94
 /CONTACT: Jerry Hostetter for Triarc Companies, 212-230-3185/
 (TRY SPV)


CO: Triarc Companies, Inc.; Southeastern Public Service Company ST: New York, Florida IN: TEX OIL SU:

PS -- NY070 -- 1096 01/11/94 15:38 EST
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Publication:PR Newswire
Date:Jan 11, 1994
Words:240
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