Turkven invests in MNG Cargo.
MNG Cargo is one of the leading Courier, Express and Parcel players in Turkey. The Company has an established network of 19 regional offices, 900 branches, 25 sorting hubs and more than 8,000 employees as of year end 2016.
DP Eurasia N.V. has successfully raised £148 million by placing 74.1 million existing and new ordinary shares with investors at a placing price of 200 pence per share. DP Eurasia’s market capitalisation on admission, based on the placing price, is approximately £291 million.
Founded in Turkey in 1996, DP Eurasia is the largest pizza delivery company in Turkey, the third largest in Russia and the fifth largest franchisee within the global Domino’s Pizza brand. The Group offers pizza delivery and takeaway/eat-in facilities at its 571 corporate and franchised stores (488 in Turkey, 76 in Russia, four in Azerbaijan and three in Georgia as at 31 March 2017). The Offer will provide a platform for the Group to execute its strategy for future growth, primarily focusing on innovation and online ordering, and the expansion of its store network, particularly, the planned roll-out of corporate stores in Russia.
Morgan Stanley acted as Sponsor, Sole Global Co-ordinator and Joint Bookrunner to the Company and Citi acted as Joint Bookrunner. The Company’s ticker is DPEU.
Aslan Saranga, Chief Executive Officer of DP Eurasia commented: “DP Eurasia N.V. has a strong track record of delivering growth within its chosen markets using the proven Domino’s Pizza model that has delivered significant shareholder value in other listed master franchisees around the world. This is an exciting time for the Group as we look to accelerate our growth using the proceeds from the Offer to support our expansion in Russia and further invest in technology to maximise the delivery experience to our customers. We are looking forward to delivering for shareholders as we continue to execute our well-established business model.”
