StockMarketWire.com - Domino's Pizza said it had conditionally agreed to sell its 71% stake in its Norwegian business to minority shareholders Pizza Holding and EYJA Fjarfestingafelag III EHF.

As part of the deal, the minority shareholders transferred their entire stake in Domino's Sweden to the company.

Domino's also agreed to fund future liabilities of Domino's Norway expected in aggregate to be up to approximately NOK 34m.

The company said it expected to convene a general meeting to approve the transaction by early May 2020.

The move marked the end of Domino's operations in Norway following a string of losses. The company vowed to continue to exit other loss-making businesses in Scandanavia.

'Now we have agreed the transaction for Norway, we will focus on progressing transactions for our businesses in Sweden, Switzerland and Iceland. We are focused on securing the best possible terms for shareholders and are working closely with Domino's International throughout. We will update the market in due course,' Domino's Pizza said.



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