Prosus announced a conditional agreement to acquire Just Eat Takeaway for €20.30 per share, totaling around €4.1 billion, which represents significant premiums over previous share prices. The acquisition aims to fortify Prosus's position in the European food delivery market, leveraging Just Eat's established success across 17 nations that connect 61 million users with local partners. With significant backing from Just Eat’s leadership, the transaction, pending regulatory approval, is expected to conclude by year’s end, offering Prosus a strategic advantage in expanding its investments in food, groceries, and fintech.
"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." - Jitse Groen, CEO of Just Eat Takeaway
"This acquisition offers Prosus a chance to strengthen its presence in the European food delivery market, complementing its existing operations outside of Europe."
"The price of €20.30 per share in cash represents a premium of 63 percent to the Company’s closing share price on 21 February 2025, and a 49 percent premium over the 3-month VWAP."
"The transaction is subject to customary conditions, including regulatory approvals. It is expected that settlement will take place by the end of the year."
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