ATLANTA — Wendy’s/Arby’s Group said Monday that it was set to sell Arby’s Restaurant Group to a buyer formed by the private equity firm Roark Capital Group in a deal valued at $430 million.

Wendy’s/Arby’s was set to retain an 18.5 percent interest in Arby’s, it added.

The deal came after the Atlanta-based group said it was exploring strategic alternatives for Arby’s.

Wendy’s/Arby’s expected that Arby’s would be reported as a discontinued operation in the group’s second-quarter results.

The transaction was expected to close in the third quarter.