Jubilant FoodWorks shares jumped more than 5% in a weak market to a new 52-week high of Rs 3,098.55 on BSE on Monday after the company said it would fully acquire Dutch company Fides Food Systems Cooperatief UA through its 100-owned subsidiary Jubilant Foodworks Netherlands BV At 12:20 pm, shares of Jubilant FoodWorks were trading at Rs 3,057.50, up 3.61 percent.
“We would like to inform that Jubilant Foodworks Netherlands BV, a 100% subsidiary of the company, has entered into a purchase agreement with Turkish Private Equity Fund II LP to fully acquire Fides Food Systems Cooperatief UA Jubilant FoodWorks Limited has also signed the contract for ‘purchase as a guarantor under the investment obligations of Jubilant FoodWorks Netherlands BV, “Jubilant FoodWorks said in a statement to the stock exchanges.
Following this acquisition, Jubilant Foodworks Limited will indirectly own 32.81 percent of the Fides shares held by DP Eurasia, he added.
Jubilant FoodWorks is the owner of the Domino’s Pizza master franchise in India
BSE Sensex was trading at 50,096.70, down 793.50 points and NSE Nifty was at 14,772.50, down 209 points at the time.