Liberum acts as Financial Adviser and Corporate Broker to DP Eurasia N.V.
We are pleased to announce Liberum acts as Financial Adviser and Corporate Broker to DP Eurasia N.V. in the successful defence against an unsolicited reverse bookbuild and subsequent implementation of minority protection.
DP Eurasia is the exclusive master franchisee of the Domino’s Pizza brand in Turkey, Russia, Azerbaijan and Georgia. The Company is Premium listed and registered in the Netherlands.
On 1 October 2021, Jubilant Foodworks Netherlands B.V., DP Eurasia’s major shareholder, announced its intention to increase its holding in the Company to 49.99% via a reverse bookbuild, exploiting the unique scenario that, post Brexit, The City Code on Takeovers and Mergers, nor any equivalent overseas legislation, no longer applied to the Company.
With reference to Liberum’s advice as to the financial terms of the reverse bookbuild and potential impact on the Company’s listing, the Board recommended that shareholders did not tender their shares and Jubilant’s position remained below 40%.
Based on feedback from shareholders, Liberum subsequently assisted in advising DP Eurasia on the negotiation of revised terms to the Relationship Agreement between DP Eurasia and Jubilant to provide certain minority shareholder protections that would be expected under The City Code for Takeovers and Mergers; with the revised terms to be adopted permanently through amendments to the Articles of Association, subject to a General Meeting to be held by no later than 30 June 2022.
Investment Banking – Tim Medak, Mark Harrison, Andrew Godber, Edward Thomas, Lydia Zychowska