The
company said it will sell its entire 71% shareholding in the
Norway business in return for the buyers' entire stake in its
Swedish operations and a nominal amount of 1 Norwegian crown
($0.1081).
The transfer of shares will give Domino's Pizza Group full
ownership of its Swedish operations, enabling it to sell its
business there.
"Now we have agreed the transaction for Norway, we will focus on
progressing transactions for our businesses in Sweden,
Switzerland and Iceland," Chief Executive Officer David Wild
said.
The company, a franchise of U.S.-based Domino's Pizza Inc <DPZ.N>,
has been trying to offload its international markets as it
struggled to control costs, especially in Norway, where it was
converting the local pizza operator Dolly Dimple's stores it
bought in 2017.
The company will pay up to 7 million pounds ($9.08 million)for
the Norway business' operating expenses in addition to funding
its losses until the completion of the sale.
(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Aditya
Soni)
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