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Just Eat Takeaway.com is set to be acquired by investment group Prosus in a more than €4bn deal that will see the European food delivery company delisted from public markets.
Prosus made an all-cash offer valuing Just Eat shares at €20.30, a 22 per cent premium over its three-month high.
The move marks an end to a tumultuous few years for the Amsterdam-based Just Eat, which saw its shares surge during the Covid pandemic only to sharply fall off as lockdowns ended.
Just Eat acquired US-based food ordering platform Grubhub for $7.3bn in 2021 at the height of the pandemic-fuelled delivery boom before selling it this past November for just $650mn.
The deal for Just Eat also marks the most significant transaction for Prosus under its new chief executive Fabricio Bloisi, who has targeted ambitious growth plans for the group.
In a statement, Bloisi said the Just Eat Takeaway.com deal was an “opportunity to create a European tech champion”.
Bloisi is the former head of iFood, the Prosus-owned top food delivery app in his native Brazil.
He became chief executive at South Africa’s Naspers group aiming to double the market value of its investment arm Prosus, the biggest shareholder in Chinese internet giant Tencent.
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