Jubilant Foodworks, on 28 November, announced that its subsidiary, Jubilant Foodworks Netherlands BV, is set to acquire the remaining shares of DP Eurasia for 73.35 million euros, and turn it into a wholly-owned subsidiary.

Jubilant Foodworks Netherlands BV currently owns a 48.84% stake in DP Eurasia and will acquire the remaining shares via an open offer and market purchase. To fund the acquisition, Jubilant Foodworks Netherlands BV will use a combination of existing and new-term loan facilities available from HSBC.

The company said that Jubilant Foodworks Netherlands BV has proposed to acquire the ordinary shares of DP Eurasia at an average price of up to 85 pence per share, which is a 24.1% premium to its closing price of 68.5 pence on 27 November.

DP Eurasia is a public company that is listed on the London Stock Exchange and is the exclusive master franchisee of the Domino’s Pizza brand in Georgia, Turkey, and Azerbaijan.

DP Eurasia offers pizza delivery and takeaway/eat-in facilities at its 694 stores, out of which 678 are in Turkey, 10 in Azerbaijan, and 6 in Georgia. It is also the largest pizza delivery company in Turkey. It also owns a coffee brand named COFFY, which has a total of 67 stores.Jubilant Foodworks Set To Acquire the Remaining Shares in DP Eurasia