Jubilant Foodworks Ltd, which runs the Indian unit of Domino’s Pizza, will acquire a company that owns a significant stake in the entity that operates the pizza chain in several Eurasian countries
The Noida-based firm, through Jubilant Foodworks Netherlands BV, will buy Fides Food Systems Coöperatief UA from Turkish Private Equity Fund II LP.
Fides, in turn, holds a 32.81% stake in DP Eurasia NV, which is listed on the London Stock Exchange and acts as the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Georgia and Azerbaijan.
The Fides acquisition will take place for a consideration of £24.8 million (about $34.7 million or Rs 251 crore), Jubilant said in a filing with stock exchanges.
Jubilant says it expects the acquisition to be completed within 20 business days. In a statement, it said the move will help it to indirectly hold the minority stake in DP Eurasia.
Source: Vccircle
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