Australia's Domino's Pizza Enterprises climbs on acquiring PizzaVest

Formosa International Hotels

11/06/2021 02:03

** Shares of Domino's Pizza Enterprises  DMP.AX  rise as
much as 2.4% to A$116.810, marking their biggest intraday
percentage gain since June 4 
    ** The pizza maker entered an agreement with Taiwan-based
Formosa International Hotels Corp to acquire entire stake in
PizzaVest Co Ltd for A$79 mln ($61.24 mln)  urn:newsml:reuters.com:*:nASX1HmtVT
    ** DMP says on a FY2020 pro-forma basis, the transaction is
roughly 2% earnings per share accretive and that it will have a
marginal contribution to co's FY22 underlying earnings 
    ** Co says it is revising its future store count outlook in
Asia from 1,500 stores to 1,900 stores by 2030-2032
    ** Stock up about 31.6% this year, as of last close 


($1 = 1.2900 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))