Domino’s Pizza Enterprises raises $112 million to finance acquisition of German unit

Domino’s Australian franchise said it would issue new shares at a price of A$65.05 per share, a 2% discount from the stock’s last close on November 30.

In November, the company received a notice of exercise of options from Domino’s Pizza Group Plc, calling for the purchase of all its shares in the German joint venture.

The joint venture is two-thirds owned by the Australian company, while the rest is owned by London-listed Domino’s Pizza Group.

Any funds remaining after the purchase will be used to pay down debt, Domino’s Pizza Enterprises said.

The fundraising announcement came a month after the company said inflationary headwinds would continue through 2023, driven primarily by rising commodity prices, rising gas in Europe and rising labor costs in some markets.

($1 = 1.4736 Australian dollars)

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