Jubilant FoodWorks Ltd completed acquisition of balance stake in JV

Jubilant FoodWorks Ltd. ("Company") has completed the acquisition of 49% stake from Golden Harvest QSR Limited ("Golden Harvest") in Jubilant Golden Harvest Limited ("JGHL") on May 10, 2022 at an aggregate consideration amounting to BDT 389,015,160/- (Bangladeshi Taka Three Hundred and Eighty Nine Million Fifteen Thousand One Hundred and Sixty Only)(equivalent to INR 34.02 Crores) and certain post-closing intimations and registrations with the regulatory authorities are being undertaken. Post-acquisition, Company's stake in JGHL increased from 51% to 100% (with 1 share of JGHL being held by a nominee of the Company in order to comply with local law requirements in Bangladesh).

Source : Equity Bulls

Keywords

JubilantFoodWorks StakeAcquisition JubilantGoldenHarvest Bangladesh