Global technology company Prosus is to acquire food delivery service Just Eat Takeaway.com (Just Eat) in a €4.1 billion deal.
South-Africa-based Prosus said the takeover would enable the firm to create a strong European food delivery platform and complement its other food delivery businesses.
The company has a food business which currently spans over 70 countries and one million restaurants.
It has full ownership of iFood, the Latin American food delivery platform and a 28 per cent stake in Just Eat’s rival Delivery Hero.
Additionally, the firm holds a 25 per cent stake in Swiggy, a food and grocery delivery platform in India.
Prous said that its experience in the food delivery business means it is well-positioned to enable the growth of Just Eat and it will transform the business through new technology and product features.
The offer is supported and recommended by Just Eat’s management and supervisory boards and is subject to regulatory approval.
“Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business,” said Just Eat Takeaway.com chief executive Jitse Groen. “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.”
