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(Alliance News) - Domino's Pizza Group PLC on Tuesday said it received GBP79.9 million from the completed disposal of its investment in its German associate investment, Daytona JV Ltd, which owns the trading operations of Domino's Germany.
The Milton Keynes, England-based pizza delivery group said this comprises a put option exercise price of GBP70.6 million and a repayment of a GBP9.3 million loan. Back in Novemeber, Domino's said it expected to receive between GBP80 million and GBP90 million in the first half of 2023 from the put option. The proceeds from the transaction will be flowed through the company's capital allocation framework.
Domino's holds a 33% investment in Daytona.
The company also said it is continuing to execute a GBP20 million share buyback, which it announced last month, due to "successful execution of the strategy and confidence in the business."
Shares in Domino's were up 0.1% at 280.80 pence each in London on Tuesday morning.
By Sabrina Penty, Alliance News reporter
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