Naspers’ European-listed subsidiary Prosus has agreed to acquire Amsterdam-based Just Eat Takeaway.com for $4.3 billion, a move that strengthens its position in the global food delivery industry.
The all-cash offer of $22.02 per share represents a 49% premium to Just Eat’s three-month volume-weighted average price, Prosus said in a statement Monday. The stock closed at $13.48 on Friday.
The deal is part of Prosus CEO Fabricio Bloisi’s broader strategy to diversify growth beyond the company’s early investment in Chinese gaming giant Tencent Holdings Ltd.
“Prosus sees an opportunity to accelerate growth at Just Eat Takeaway, leveraging its strong industry experience to innovate and drive efficiencies,” the company said.
If approved by regulators, the acquisition would create the world’s fourth-largest food delivery group.
“We believe that combining Prosus’s strong technical and investment capabilities with Just Eat Takeaway’s leading brand position in key European markets will create significant value for our customers, drivers, partners, and shareholders,” Bloisi said in the statement.
Prosus has built a formidable global portfolio in food delivery, particularly outside Europe. It fully owns iFood, Latin America’s largest food delivery platform, and holds a 28% stake in Delivery Hero, a global delivery company. It also owns 4% of Meituan, the world’s largest food delivery business, and 25% of Swiggy, an Indian food and grocery delivery platform that recently went public.
Just Eat Takeaway operates in 17 countries. In 2024, the company reported a gross transaction value of $28.5 billion and an adjusted EBITDA of $498 million . Just Eat acquired U.S.-based Grubhub for $7.3 billion in 2020 but offloaded it last month for just $650 million.
