Just Eat Takeaway.com to Sell Around 33% Stake in iFood JV to Prosus for Up to EUR1.8 Billion
19 August 2022 - 8:39AM
Dow Jones News
By Kyle Morris
Just Eat Takeaway.com NV said Friday that it has agreed to sell
its around 33% stake in the iFood joint venture to Prosus NV for up
to 1.8 billion euros ($1.82 billion) as it looks to focus on
improving profitability and on a disciplined capital
allocation.
The Amsterdam-based food-delivery group said the amount
comprises EUR1.5 billion in cash on closing and a deferred
consideration based on the performance of the online food delivery
sector over the next year of up to EUR300 million.
The transaction is expected to complete in the fourth quarter of
2022, subject to shareholder approval.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
August 19, 2022 02:24 ET (06:24 GMT)
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