(BBC) Darden Restaurants has sold its struggling Red Lobster chain of seafood restaurants to private-equity firm Golden Gate Capital for $2.1bn (£1.2bn).

Several activist investors have opposed the move.

They have argued for a larger restructuring of Darden, which also owns the Olive Garden restaurant chain.

Profits at Red Lobster have been hit by rising shrimp prices.

Shares in Darden slumped more than 4% on news of the sale.

  • Text smaller
  • Text bigger
Note: Read our discussion guidelines before commenting.