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Antitrust · Food Delivery · Investment · M&A
Uber acquired a 4.5% stake in food-delivery group Delivery Hero from Prosus for approximately 270 million euros ($318.2 million), fulfilling a European Union antitrust remedy for Prosus's acquisition of Just Eat Takeaway.
Prosus, a subsidiary of Naspers and the largest shareholder in China's Tencent, divested this stake as part of a condition set by EU antitrust authorities last year. The EU mandated Prosus to shed most of its over 26% stake in Delivery Hero within 12 months to prevent competition hindrance following its $4.8 billion acquisition of Just Eat Takeaway.
The transaction price of 20 euros per share represents a 22% premium to Delivery Hero's average share price over the last month, as stated by Prosus. Delivery Hero CEO Niklas Ostberg welcomed Uber's increased investment, viewing it as a significant endorsement of their platform and strategy.
Prosus remains committed to selling the remaining required portion of its Delivery Hero stake within the stipulated timeframe, with media reports suggesting a potential sale to Aspex Management, Delivery Hero's second-largest investor.
