Jubilant Foodworks Netherlands B.V. made an offer to acquire remaining 51.16% stake in DP Eurasia N.V. (LSE : DPEU) for ?72.7 million from group of sellers on November 28, 2023. As on January 16, 2024, The Independent DP Eurasia Directors and the board of Jubilant Foodworks are pleased to announce that they have reached an agreement on the terms of a recommended increased and final cash offer to be made by Jubilant Foodworks for the entire issued and outstanding share capital of DP Eurasia not already owned by Jubilant Foodworks at a price of ?127.8134 pence per DP Eurasia Share. Jubilant Foodworks offered £85 (?97) pence per DP Eurasia Share. JFN would be using a combination of existing term loan facility availed from HSBC (which is backed by the Corporate Guarantee issued by the Company) and avail a new long-term facility from HSBC backed by the Corporate Guarantee to be issued by the Company in favour of HSBC. As of December 19, 2023, following consultation with DP Eurasia's shareholders, Jubilant Foodworks is pleased to announce an increase to the Original Offer Price to £95 (?1.103843) pence per DP Eurasia Share. As a result, the Board, has concluded that it is not recommending the Revised Offer and continues to urge minority shareholders to take no action. Jubilant Foodworks disagrees with DP Eurasia's assessment of the Offer as being significantly below fair value and not reflecting the company's prospects. On January 15, 2024, Jubilant Foodworks is extending the deadline for acceptance of the Offer until January 31, 2024. As on January 11, 2024, Jubilant Foodworks had received valid acceptances of the Offer in respect of a total of 5,000 DP Eurasia Shares. As on January 25, 2024, Jubilant Foodworks Netherlands B.V. had received valid acceptances of the Offer in respect of a total of 4,423,380 DP Eurasia Shares representing 3.02%. As of January 30, 2024, Jubilant Foodworks had received valid acceptances of the Increased Offer in respect of a total of 28,831,089 DP Eurasia Shares, representing approximately 19.7% of DP Eurasia. The cancellation of listing and trading of DP Eurasia Shares will take effect on or shortly on February 27, 2024.

Oliver Jackson of Peel Hunt LLP acted as financial advisor to Jubilant Foodworks. Andrew Godber, Edward Thomas, Tim Medak, Mark Harrison, and Matt Hogg of Liberum Capital Limited acted as financial advisor to DP Eurasia. Sybren de Beurs of NautaDutilh and Ashurst LLP acted as legal advisor to Jubilant Foodworks Netherlands in the transaction. James Vernon and Nik Colbridge of Dentons Europe CS LLP acted as legal advisor to DP Eurasia.

Jubilant Foodworks Netherlands B.V. completed the acquisition of 51.16% stake in DP Eurasia N.V. (LSE : DPEU) from group of sellers on January 31, 2024. As a part of closing, FCA has now confirmed the cancellation of listing and trading of DP Eurasia Shares is expected to take place on or shortly after 8.00 a.m. (London time) on February 28, 2024.