LONDON, UK: Jubilant Foodworks, the owner of Domino’s Pizza franchises in India and other countries, has increased its cash offer for DP Eurasia, the operator of Domino’s Pizza outlets in Turkey and Russia, from 85 pence to 95 pence per share.
The revised offer values DP Eurasia at £139.3m and represents a premium of 38.7 per cent. to its closing share price on 27 November 2023, the day before Jubilant Foodworks announced its intention to buy the company.
Jubilant Foodworks already owns 54.67 per cent. of DP Eurasia’s shares, having acquired more than 8.5 million shares on the London Stock Exchange since 28 November 2023. Under DP Eurasia’s articles of association, Jubilant Foodworks is required to make a mandatory offer for the remaining shares within 30 days of crossing the 50 per cent. threshold.
Jubilant Foodworks said the increased offer followed consultation with DP Eurasia’s shareholders and reflected its confidence in the company’s growth prospects. DP Eurasia has not yet commented on the offer.
Jubilant Foodworks offers to acquire DP Eurasia at the rate of 85 pence/share
Jubilant Foodworks to purchase DP Eurasia shares for GBP 23.7mn