Bain to sell Domino’s Japan for $123m
Bain Capital will sell a 75% stake in Domino’s Pizza Japan (DPJ) to Australia-listed Domino’s Pizza Enterprises (DPE) for JPY12 billion ($123.4 million). The buyer will provide JPY9 billion of new debt funding, implying an enterprise value for the whole business of JPY25 billion.
Bain will retain 25% of the Japan business, bought in 2010 for a reported JPY6 billion ($66.5 million then) with leverage provided by Bank of Tokyo Mitsubishi UFJ. DPJ operates under a 20 year Master...
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