Jubilant Foodworks offers to acquire DP Eurasia at the rate of 85 pence/share
Jubilant Foodworks raises offer for DP Eurasia to £139.3m
LONDON: Jubilant Foodworks, the owner of Domino’s Pizza in India, has agreed to buy the rest of DP Eurasia, the operator of Domino’s Pizza in Turkey and Russia, for 110 pence per share in cash, valuing the company at £161.2m.
The increased offer, which is final and unconditional, is 29.4 per cent higher than the original offer of 85 pence per share made in November 2023, and more than double the average share price of DP Eurasia in the past year.
Jubilant Foodworks, which already owns 54.7 per cent of DP Eurasia, said the deal would create value for both companies and their shareholders, and enhance its presence in the fast-growing pizza markets of Turkey and Russia.
DP Eurasia’s independent directors have unanimously recommended the increased offer, which will be open for acceptance until 28 January 2024. A revised offer document will be published soon.