Domino’s Pizza UK & IRL plc has announced that it has
purchased an equipment leasing business from Dresdner Kleinwort
Leasing.
The business, Dresdner Kleinwort Leasing March (2) Limited,
currently operates finance leases and has entered into three
equipment leases across multiple jurisdictions, according to a
statement issued by the pizza delivery company.
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Domino’s Pizza paid an initial consideration of £26,007
(€30,168) for the business, and will also pay deferred
consideration up to a maximum aggregate amount of £15 million.
“The amount and timing for the payments of deferred
consideration will depend on the amount and timing of the
benefits,” said Domino’s Pizza, which will be entitled to £29
million of tax reliefs arising from its ownership of the leased
equipment. The deferred consideration will be paid from January
2011 until 2016.
For the period January 1 2009 to July 1 2009, the leasing
business had a pre-tax profit of £107,018; as well as gross assets
of £6.2 million and net assets of £26,007.
Jason T Hesse
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