Earlier, the company through JFN acquired 100% of Fides Food Systems Coöperatief U.A., Netherlands, which holds 32.81% ordinary shares of DP Eurasia. Accordingly, post-acquisition, the company may indirectly hold up to 49.99% ordinary shares of DP Eurasia.
For funding the acquisition, JFN has a short term borrowing facility in place. Additionally, JFN is also exploring various other options to replace/refinance this short term borrowing facility with a long term facility or other means, as may be appropriate.
DP Eurasia is a public company incorporated in Netherlands and listed with London Stock Exchange PLC. DP Eurasia is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia. DP Eurasia (together with its subsidiaries) offers pizza delivery and takeaway/ eat-in facilities at its 789 stores (584 in Turkey, 192 in Russia, 9 in Azerbaijan and 4 in Georgia as at 30 June 2021) and operates through its owned corporate stores (28%) and franchised stores (72%).
“JFN intends to apply for retrospective antitrust clearance from the Turkish Competition Authority and an approval from the Russian Competition Authority. However, the current acquisition is not conditional on Turkish or Russian antitrust clearance,” company said in a filing on Thursday.
At around 11.09 am, Jubilant Foodworks Ltd was trading at Rs4,091.90 per piece up by Rs51.25 or 1.27% from its previous closing of Rs4,040.65 per piece on the BSE.