Jubilant FoodWorks to increase stake in DP Eurasia; stock rises more than 1 per cent
The said company is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia.
Jubilant Foodworks Netherlands BV (JFN), a wholly-owned subsidiary of Jubilant Foodworks Limited announced to the exchange that it proposes to acquire up to 17.18 per cent ordinary shares of DP Eurasia NV (DP Eurasia).
The shares are expected to be acquired through a reverse bookbuild process from certain professional investors of DP Eurasia. Earlier, the company through JFN acquired 100 per cent of Fides Food Systems Coöperatief UA, Netherlands, which holds 32.81 per cent of ordinary shares of DP Eurasia. Accordingly, post-acquisition, the company may indirectly hold up to 49.99 per cent ordinary shares of DP Eurasia. For funding the proposed acquisition, JFN has a short-term borrowing facility in place. Additionally, it is also exploring various other options to replace this short-term borrowing facility with a long-term facility or other means, as it may be appropriate for the company.
DP Eurasia NV is a public company incorporated in the Netherlands and listed with London Stock Exchange PLC. The said company is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia. DP Eurasia along with its subsidiaries offers pizza delivery and takeaway/eat-in facilities at 789 stores out of which 584 are located in Turkey, 192 in Russia, 9 in Azerbaijan and the remaining 4 in Georgia as of June 30 2021, and operates through its owned corporate stores (28 per cent) and franchised stores (72 per cent).
On Friday at 10:10 am, the share price of Jubilant FoodWorks Ltd was trading 1.17 per cent higher at Rs 4087.90 on BSE.
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