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Ireland

Domino's Pizza Group completes €92m Shorecal acquisition after Republic of Ireland CCPC clearance; consideration in cash and shares with debt repayment; new shares admitted to FCA list and LSE

Published on: 15 April 2024

Published by a Law360 reporter
Legal News
Article summary

In March 2024, Domino’s UK division said it would assume full ownership of its largest Irish franchise partner via a cash, share and debt transaction, subject to securing competition approval in the Republic of Ireland. The company is paying €72m in total for Shorecal, which also operates in Northern Ireland. It expects to fund 61% of the sum in cash, with the remaining 39% settled entirely in shares. It will further repay €19.9m of Shorecal’s outstanding debt. ‘The firm is pleased to state that, following clearance by the Republic of Ireland’s Competition and Consumer Protection Commission,...

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