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

Jubilant FoodWorks stated that JFN proposes to acquire, through any permissible mode including open offer and market purchase.

JFN currently holds 48.84% ordinary shares of DP Eurasia. For funding the acquisition, JFN would be using a combination of existing and a new term loan facility availed from HSBC (which is backed by the corporate guarantee issued by the company).

JFN proposes to acquire upto 51.16% ordinary shares of DP Eurasia from its existing shareholders, at a price of upto 85 pence (equivalent to EUR 0.97 as on 27 November 2023) per ordinary share which represents a premium of approximately 24.1% to the closing share price of 68.5 pence per DP Eurasia share on 27 November 2023. The aggregate purchase consideration will be upto EUR 73.36 million approximately, the firm stated in the press release.

Meanwhile, the company added that if the acquisition is completed through an open offer, the estimated time frame for completion is 90 days.

Jubilant FoodWorks (JFL) is India's largest foodservice company and is part of the Jubilant Bhartia group. Incorporated in 1995, JFL holds the exclusive master franchise rights from Domino's Pizza Inc. to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. In India, JFL has a strong and extensive network of 1,888 Domino's stores across 397 cities.

The company’s consolidated net profit declined 39.46% to Rs 72.15 crore despite of 4.51% increase in net sales to Rs 1,344.83 crore in Q2 FY24 over Q2 FY23.

Shares of Jubilant FoodWorks were down 0.10% to Rs 544.35 on the BSE.