(Alliance News) - DP Eurasia NV on Thursday said it is still in negotiations with Jubilant Foodworks Netherlands BV, a subsidiary of Jubilant Foodworks Ltd, despite an announcement from Jubilant that it is not in negotiations.
The master franchisee of the Domino's Pizza brand in Turkey, Azerbaijan, and Georgia said Jubilant's announcement was incorrect, and added that it hopes the negotiations can be "amicably concluded".
The negotiations are in connection to Jubilant's revised offer of 95 pence per DP Euroasia share.
DP Eurasia said that it has received "extremely strong feedback" from its minority shareholders, but remains unanimous in not recommending the revised offer, and is urging minority shareholders to take no action.
The firm said it "remains committed to negotiating as expeditiously as it can to deliver no less a price for shareholders."
Jubilant Foodworks already holds the master franchise rights from Domino's Pizza to develop and operate its stores across India, Sri Lanka, Bangladesh and Nepal.
As of December 18, Jubilant Foodworks also owns 80.1 million DP Eurasia shares, representing around 54.7% of DP Eurasia's issued and outstanding share capital.
DP Eurasia shares fell 4.6% to 93.50 pence each on Thursday morning in London.
By Harvey Dorset, Alliance News reporter
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