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Jubilant Foodworks to acquire Fides for 32.81% stake in DP Eurasia

Capital Market 

For consideration of GBP 24.80 million

Jubilant Foodworks (JFL) today announced it will fully acquire Fides Food Systems Coeratief U.A., Netherlands (Fides) for an agreed investment of approximately GBP 24.80 million through its wholly owned subsidiary - Jubilant Foodworks Netherlands B.V.

Fides is the beneficial owner of 32.81% of equity shares of DP Eurasia N.V. (DP Eurasia). DP Eurasia is a public company listed with London Stock Exchange PLC and 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 771 stores (568 in Turkey, 190 in Russia, 9 in Azerbaijan and 4 in Georgia as on 31 December 2020).

To this end, Jubilant Foodworks Netherlands B.V. and Jubilant Foodworks (acting as a guarantor for investment obligation of its wholly owned subsidiary) has entered into a Purchase Agreement with Turkish Private Equity Fund II L.P., which is the sole member of Fides.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, February 19 2021. 18:10 IST
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