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.
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By Scarlett Butler; scarlettbutler@alliancenews.com
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