StockMarketWire.com - Domino's Pizza Group is acquiring a further 44.3% shareholding in Domino's Iceland for €30.2 million, taking ownership to 95.3%.

The group also announced completion of refinancing with new revolving credit facilityof £350 million through a syndicate of seven banks; an increase in target leverage to a range of 1.75x - 2.5x net debt/EBITDA and a further share buyback of £20m to commence shortly.

Chief executive David Wild said: 'We're really pleased to be increasing our ownership of Domino's Iceland earlier than was planned.

'It's a great business and after 18 months of partnership, we have good visibility of its strengths and further opportunities for growth.

'There is a strong financial and commercial rationale for buying out minorities now rather than waiting for the put or call option to be exercised.

'We've also reviewed our capital structure.

'It makes sense for a highly cash generative franchise business like DPG to have a balanced approach to equity and debt funding, and this is reflected in our revised target leverage range.

'The additional £20 million share buyback takes the total share purchases announced in the current year to £55 million and underlines our commitment to returning excess capital to shareholders.'








At 8:12am: [LON:DOM] Dominos Pizza Group PLC share price was +4.05p at 326.35p



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