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IN BRIEF: Domino's Pizza completes sale GBP14 million of Iceland arm

Tue, 01st Jun 2021 12:24

Domino's Pizza Group PLC - Milton Keynes, Buckinghamshire-based pizza delivery master franchiser - Completes sale of entire stake in Pizza Pizza or "Domino's Iceland".

In March, Domino's said it had agreed to sell its Icelandic operations, including 23 stores, for GBP13.7 million in cash. At this time, the company said that proceeds from the sale would initially be used to reduce its debt. The purchaser, PPH, is an investment vehicle owned by a consortium including Eyja fjarfestingafelag III, a wholly-owned subsidiary of Eyja fjarfestingafelag.

Eyja fjarfestingafelag is partly-controlled by Birgir Bieltvedt, who is also an "indirect owner" of DP Norway. The sale is part of Domino's planned exit from all directly operated international markets to allow the FTSE 250-listed company to focus on its core UK and Ireland markets.

Current stock price: GBP368.40, up 0.9% on Tuesday

Year-to-date change: up 13%

By Scarlett Butler; scarlettbutler@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved,

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