http://finance.yahoo.com/news/darden-announces-sale-red-lobster-121818379.html Investors have challenged Darden's plans to sell only Red Lobster, saying that the company should separate Olive Garden and Red Lobster as a pair from its other, more successful chains, which include Longhorn Steakhouse and Capital Grille. There are about 700 Red Lobster locations and 830 Olive Gardens in North America. After the transaction costs, Darden said it expects proceeds of $1.6 billion, of which $1 billion will be used to retire outstanding debt. The company said it expects the deal to close in its first fiscal quarter. Shares of Darden, based in Orlando, Florida, slipped 1 percent to $50.10 in premarket trading.