(Reuters) – Britain\u2019s biggest pizza delivery company Domino\u2019s Pizza Group (DOM.L) said on Thursday it would sell its Norwegian business to existing minority shareholders of the business, kicking off the sale of its loss-making overseas operations.<\/p>\n
The company said it will sell its entire 71% shareholding in the Norway business in return for the buyers\u2019 entire stake in its Swedish operations and a nominal amount of 1 Norwegian crown ($0.1081).<\/p>\n
The transfer of shares will give Domino\u2019s Pizza Group full ownership of its Swedish operations, enabling it to sell its business there.<\/p>\n
\u201cNow we have agreed the transaction for Norway, we will focus on progressing transactions for our businesses in Sweden, Switzerland and Iceland,\u201d Chief Executive Officer David Wild said.<\/p>\n
The company, a franchise of U.S.-based Domino\u2019s 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\u2019s stores it bought in 2017.<\/p>\n
The company will pay up to 7 million pounds ($9.08 million)for the Norway business\u2019 operating expenses in addition to funding its losses until the completion of the sale.<\/p>\n","protected":false},"excerpt":{"rendered":"
(Reuters) – Britain\u2019s biggest pizza delivery company Domino\u2019s Pizza Group (DOM.L) said on Thursday it would sell its Norwegian business to existing minority shareholders of the business, kicking off the sale of its loss-making overseas operations. The company said it will sell its entire 71% shareholding in the Norway business in return for the buyers\u2019 entire stake in its Swedish… Read more »<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4334","post","type-post","status-publish","format-standard","hentry","category-article"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/posts\/4334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/users\/144"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/comments?post=4334"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/posts\/4334\/revisions"}],"predecessor-version":[{"id":4344,"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/posts\/4334\/revisions\/4344"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/media?parent=4334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/categories?post=4334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/europeandrussiablog\/wp-json\/wp\/v2\/tags?post=4334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}