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Firms get slice of pizza purchase
A number of firms helped cook up Domino’s Pizza Enterprises’ acquisition of 75 per cent of Domino’s Pizza Japan.
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Firms: Thomsons Lawyers; Anderson Mori & Tomotsune; Ashurst Australia (All three acted for Domino's Pizza Enterprises); King & Wood Mallesons (Morgan Stanley – underwriter)
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Deal: Domino's Pizza Enterprises buys 75 per cent of Domino's Pizza Japan
Area: M&A
Value: $282 million (Enterprise value on a 100% basis)
Key players: Thomsons Lawyers’ M&A team was led by partner Eugene Fung (pictured), with support from special counsel Greg Clifton, senior associate Melanie Mitchell and associate Siew Mei Fagan. Anderson Mori & Tomotsune acted as Thomsons' Japanese counsel. The King & Wood Mallesons team was led by corporate M&A partner David Eliakim, who was supported by solicitor Hoda Nahlous.
For Ashurst, Sydney-based partners Sarah Dulhunty and Shawn Wytenburg advised in relation to the new debt facilities and consent from existing lenders, while Kensuke Inoue in Ashurst’s Tokyo office advised on Japanese security and Japanese law opinion
Deal significance: Domino’s Pizza Enterprises has entered into a strategic partnership with Bain Capital, which will retain a 25 per cent interest in Domino's Pizza Japan for a minimum of 3 years. This acquisition involved complex cross-border, financial and structural elements and commercial negotiations. Domino's Pizza Japan is the Domino’s Pizza master franchisee for Japan and has the third-largest pizza delivery chain in the country, with 259 stores as of 30 June 2013. The acquisition of Domino's Pizza Japan provides Domino's Pizza Enterprises with a substantial store growth platform, with a long-term network store target of 600 stores in Japan. The acquisition is expected to be completed before the end of September 2013.
