Prosus has reached a conditional agreement to acquire Just Eat Takeaway.com for €4.1 billion in cash, aiming to create a leading European food delivery company.

The offer of €20.30 per share represents a 49% premium over the three-month volume-weighted average price. This acquisition is expected to position the combined entity as the fourth-largest food delivery group globally.

“We are excited for Just Eat Takeaway.com to join the Prosus Group and the opportunity to create a European tech champion,” said Fabricio Bloisi, Prosus’s CEO.

“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.”

Acquiring Just Eat Takeaway.com offers a unique opportunity to enhance Prosus’s leadership in the European food delivery market, complementing its existing global footprint.

Just Eat Takeaway.com has cultivated strong customer relationships and developed some of Europe’s most beloved food delivery brands. Its successful operations in the United Kingdom, Germany, and the Netherlands have resulted in profitable, cash-generating businesses with significant growth potential, which Prosus aims to expand upon.

As a leading global food delivery investor and operator with a proven track record in scaling e-commerce platforms, Prosus is well-positioned to invest in and accelerate growth at Just Eat Takeaway.com, unlocking value beyond its standalone potential as a public company.

Prosus’s effective growth strategy at iFood in Brazil serves as a model to transform Just Eat Takeaway.com’s trajectory through renewed focus on technology, product features, demand generation, offer quality, and service.

Notably, Prosus’s AI capabilities have been instrumental in iFood’s success. Implementing AI has revolutionized iFood’s operations, enhancing customer experience and driver support, making it a highly regarded brand in Brazil. Similar opportunities exist at Just Eat Takeaway.com to improve customer and driver experiences, boost service reliability, and optimize logistics.

“Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business, said Just Eat Takeaway.com CEO, 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. We are
looking forward to an exciting future together.”