Just Eat to be acquired by tech investor Prosus
Just Eat has agreed to a takeover by technology investor Prosus in a deal worth around £3.4 billion (€4.1 billion).
Majority owned by South African business Naspers, Prosus holds a 28% stake in Just Eat rival Delivery Hero.
The company is planning to offer €20.30 a share for Just Eat as it looks to build a European “food delivery champion”.
Just Eat will continue to be based in Amsterdam following the acquisition and will maintain its key brands.
Never Miss a Retail Update!Jitse Groen, chief executive and founder of Just Eat, said: “Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business.
“Prosus fully supports our strategic plans and its extensive resources will help to further accelerate our investments and growth across food, groceries, fintech and other adjacencies. We are looking forward to an exciting future together.”
Prosus said the acquisition will strengthen its position in a key growth sector and complement its existing food delivery footprint outside of Europe.
Fabricio Bloisi, chief executive of Prosus and Naspers Group, added: “We believe that combining Prosus’ strong technical and investment capabilities with Just Eat Takeaway.com’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders.”
