DP Eurasia NV - Netherlands-based pizza delivery company - Noida, India-based food services provider Jubilant Foodworks Ltd intends to purchase up to 25.0 million shares in DP Eurasia through a reverse bookbuild at a price of 95 pence per share, totalling GBP23.7 million.
Offer price reflects a 23% premium to the DP Eurasia's closing price of 77 pence on Wednesday.
Following the transaction, Jubilant Foodworks and subsidiary Fides Food Systems Cooperatief will collectively hold a 50% stake in DP Eurasia, as Fides already holds a 33% interest.
Peel Hunt is acting as financial adviser and sole bookrunner for the bookbuild.
Current stock price: 81.20 pence, up 5.5%
Year-to-date change: up 80%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.