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Domino’s Pizza Group PLC on Tuesday said it received £79.9 million from the completed disposal of its investment in its German associate investment, Daytona JV Ltd, which owns the trading operations of Domino’s Germany.
The Milton Keynes, England-based pizza delivery group said this comprises a put option exercise price of £70.6 million and a repayment of a £9.3 million loan. Back in Novemeber, Domino’s said it expected to receive between £80 million and £90 million in the first half of 2023 from the put option. The proceeds from the transaction will be flowed through the company’s capital allocation framework.
Domino’s holds a 33% investment in Daytona.
The company also said it is continuing to execute a £20 million share buyback, which it announced last month, due to ‘successful execution of the strategy and confidence in the business.’
Shares in Domino’s were up 0.1% at 280.80 pence each in London on Tuesday morning.
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