Global investment company Prosus has announced a €4.1 billion deal to acquire Just Eat Takeaway which could create the fourth largest food delivery group in the world.
The offer is all-cash and will buy each share capital for €20.30 per share, just shy of the €23.50 price at which Just Eat first started trading in 2016.
Fabricio Bloisi, Prosus’s CEO, said:
“We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion.”
The investment leader has a strong track record in food delivery outside of Europe, having invested more than US$10 billion globally spanning across 70+ countries.
Prosus’ current portfolio includes 100% stake in iFood, 28% stake in Delivery Hero and an approximate 4% stake in Meituan. The company also holds a 25% stake in Swiggy, an Indian food and grocery delivery platform.
Just Eat Takeaway.com CEO, Jitse Groen 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.”
Just Eat Takeaway.com has much success within the United Kingdom, Germany and The Netherlands, which has led to profitable operations, with considerable growth potential, which Prosus reportedly intends to build upon.
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