Jubilant FoodWorks shares surged greater than 5 per cent in a weak market to hit a contemporary 52-week excessive of Rs 3,098.55 on the BSE on Monday after the corporate stated it could totally purchase Netherlands-based Fides Meals Techniques Cooperatief U.A. by its wholly-owned subsidiary-Jubilant Foodworks Netherlands B.V. At 12:20 pm, the shares of Jubilant FoodWorks have been buying and selling at Rs 3057.50, larger by 3.61 per cent.
“We want to inform that Jubilant Foodworks Netherlands B.V., wholly-owned subsidiary of the corporate, has entered into a purchase order settlement with Turkish Personal Fairness Fund II L.P. to completely purchase Fides Meals Techniques Cooperatief U.A. Jubilant FoodWorks Restricted has additionally executed the Buy Settlement as guarantor in reference to the funding obligations of Jubilant FoodWorks Netherlands B.V.,” Jubilant FoodWorks stated in an announcement to the inventory exchanges.
Following the acquisition, Jubilant Foodworks Restricted will not directly maintain 32.81 p.c shares of Fides held by DP Eurasia, it added.
Jubilant FoodWorks is the grasp franchise proprietor of Domino’s Pizza in India
The BSE Sensex was buying and selling at 50,096.70, decrease by 793.50 factors and the NSE Nifty was at 14,772.50, down 209 factors on the time.