King & Wood Mallesons has advised Morgan Stanley (underwriters) on an A$156m accelerated renounceable entitlement offer which will be used to partially fund Domino’s Pizza Enterprises’ acquisition of a 75% interest in Domino’s Pizza Japan (“DPJ”).
Domino’s Pizza Enterprises (DPE) will enter into a strategic partnership with Bain Capital, which will retain a 25% interest in DPJ for minimum of 3 years.
Under the deal, DPE negotiated new debt facilities with a five year term from relationship banks in Australia to enable DPE to on-lend approximately A$101m of debt to DPJ. The facilities provided are denominated in Australian dollars (which will be swapped into Japanese yen) and Japanese yen.
The King & Wood Mallesons team was led by Corporate M&A Partner David Eliakim, who was supported by Solicitor Hoda Nahlous.
Domino’s Pizza commenced operations in Japan in 1985 and has grown to become the country’s third largest pizza chain with 259 stores.
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