Domino's Pizza Enterprises to raise $112 mln to fund German unit acquisition

Australia's Domino's Pizza Enterprises DMP said on Thursday it would raise A$165 million ($112 million) to fund the acquisition of its Germany-based joint venture that it owns with Domino's Pizza Group Plc DDOM.

The Australian franchise of Domino's said it would issue new shares at a price of A$65.05 per share, a 2% discount to the stock's last closing price on Nov. 30.

The joint venture is two-thirds owned by the Australian company, with the remainder owned by the London-listed Domino's Pizza Group.

Any funds left after the acquisition will be used towards debt retirement, Domino's Pizza Enterprises said.

($1 = 1.4736 Australian dollars)