Today, the global technology company, Prosus, announced its plans to create the fourth-largest food delivery group in the world.
The conditional agreement between Prosus and Just Eat has valued the food delivery company at $4.3 billion, representing a premium of 63% compared to the firm’s closing price on Friday.
Shares of Just Eat have skyrocketed 54% since the announcement, while Prosus shares fell 8.3%.
Fabricio Bloisi, Prosus’s CEO informed investors, “Prosus already has an extensive food delivery portfolio outside of Europe and a proven track record of profitable growth through investment in our customer and driver experiences, restaurant partnerships, and world-class logistics, powered by innovation and AI. We believe that combining Prosus’s 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.”
Jitse Groen, Just Eat CEO, remarked, “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.”
In November, Just Eat announced its willingness to sell GrubHub to Wonder for a substantial discount of $650 million, compared to the $7.3 billion the group originally paid for the U.S. food delivery app.
By CEO NA Editorial Staff
