DPEU Dp Eurasia N.v.

By Kyle Morris

DP Eurasia NV said Wednesday that the board has proposed additional takeover protections for minority shareholders after the U.K. Takeover Code and Dutch takeover rules ceased to apply to the company as a consequence of Brexit.

The London-listed company--which is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Azerbaijan, Georgia and Russia--said it has temporarily entered an amendment to the existing relationship agreement between it and its major shareholder Fides Food Systems Cooperatief UA, an indirect subsidiary of Jubilant Foodworks Ltd.

Under the relationship agreement, Fides or a nominee in its group, must make a takeover offer for the company if it, or its affiliates, own shares resulting in their aggregate holding being 50% or more.

The amendments took effect from Tuesday and apply until June 30 at the latest.

DP Eurasia has agreed to propose that such shareholder protection is embedded in the company's articles of association and Fides has agreed will vote in favor of such a resolution.

As of Sunday, Fides and its parent owned 41.32% of the company's issued share capital.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

February 16, 2022 02:53 ET (07:53 GMT)

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