Jubilant FoodWorks Hits 52-Week Excessive On Buying Fides Meals

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oi-Olga Robert

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On Monday, shares of Jubilant FoodWorks Ltd surged 5% to the touch a 52-week excessive of Rs 3,099.25 on BSE after the corporate stated it might absolutely purchase Netherlands-based Fides Meals Techniques Coöperatief U.A. through its wholly-owned subsidiary Jubilant Foodworks Netherlands B.V.

Jubilant FoodWorks Hits 52-Week High On Acquiring Fides Food

“We want to inform that Jubilant Foodworks Netherlands B.V., a wholly-owned subsidiary of the corporate, has entered into a purchase order settlement with Turkish Personal Fairness Fund II L.P. to completely purchase Fides Meals Techniques Coöperatief U.A. Jubilant FoodWorks Restricted has additionally executed the Buy Settlement as guarantor in reference to the funding obligations of Jubilant FoodWorks Netherlands B.V.,” the corporate stated in a press release.

Following the acquisition, Jubilant Foodworks Restricted will not directly maintain 32.81% shares of Fides held by DP Eurasia, it added.

DP Eurasia is a public firm listed with London Inventory Alternate PLC, and is the unique grasp franchisee of the Domino’s Pizza model in Turkey, Russia, Azerbaijan and Georgia. DP Eurasia (along with its subsidiaries) presents pizza supply and takeaway/eat-in amenities at 771 shops (568 in Turkey, 190 in Russia, 9 in Azerbaijan and four in Georgia as on 31 December 2020).

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