Jubilant Foodworks arm increases stake indirectly in DP Eurasia

Jubilant Foodworks Netherlands B.V. ("JFN"), a wholly owned subsidiary of Jubilant Foodworks Limited (the "Company"), proposes to acquire upto 17.18% ordinary shares of DP Eurasia N.V. ("DP Eurasia") through a reverse bookbuild process from certain professional investors of DP Eurasia. 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 upto 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 N.V. ("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%).

Shares of Jubilant Foodworks Limited was last trading in BSE at Rs. 4056.9 as compared to the previous close of Rs. 4072.7. The total number of shares traded during the day was 12226 in over 2184 trades.

The stock hit an intraday high of Rs. 4129.95 and intraday low of 4026.15. The net turnover during the day was Rs. 49708542.

Source : Equity Bulls

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