Jubilant FoodWorks raises cash offer for DP Eurasia; stock gains

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Jubilant FoodWorks has informed the exchange that the company has launched a cash offer to acquire the remaining 45.33 per cent of the share capital of DP Eurasia, a subsidiary company, for 95 pence per share (from the earlier 85 pence) in cash.

Jubilant Foodworks Netherlands B.V. (JFN), a wholly owned subsidiary of Jubilant FoodWorks Ltd holds 54.67 per cent.

Jubilant FoodWorks had earlier announced the appointment of Suman Hedge as the Executive Vice President and Chief Financial Officer of the company, effective March 1, 2024.

The stock traded at ₹568.80 on the NSE, up by 1.73 per cent as of 2:32 pm on Tuesday.