The acquisition deal values shares of Just Eat Takeaway.com at 20.3 euros each. This represents a 63% premium over the company’s recent closing stock price. Fabricio Bloisi, CEO of Prosus and Naspers, expressed excitement about integrating Just Eat into Prosus, citing potential to create a significant European technology player.
Just Eat Takeaway has faced challenges over recent years due to shifting consumer habits post-Covid-19, which led to a slowdown in its growth trajectory. Initially boosted by the pandemic as consumers leaned heavily on delivery services, the trend reversed as restrictions eased, affecting the company’s market standing.
In response to market pressures, Just Eat delisted from the London Stock Exchange, citing the burdensome administrative and regulatory demands as reasons. It also marked Amsterdam as its sole trading hub.
Moreover, Just Eat recently announced plans to sell its GrubHub segment to Wonder, a New York-based company, for $650 million. This is a substantial markdown from the $7.3 billion originally paid for GrubHub.
Jitse Groen, Just Eat Takeaway’s CEO, noted that Prosus supports their strategic vision. The resources brought in by Prosus are expected to bolster Just Eat’s investments across various sectors, including food, groceries, fintech, and more.
The acquisition by Prosus indicates a strategic move to consolidate its position in the European food delivery market by leveraging Just Eat Takeaway’s established infrastructure. This partnership aims to drive growth and enhance service offerings across the region.
