Prosus buys Just Eat Takeaway in $4 billion bid to expand in Europe
Prosus CEO plans faster growth after $4.3 billion Just Eat Takeaway purchase
Tech investment giant Prosus NV has agreed to acquire Just Eat Takeaway.com NV for €4.1 billion ($4.3 billion) in an all-cash deal.
The purchase price of €20.30 per share represents a 49% premium over the three-month volume-weighted average price. The stock closed at €12.43 on Friday, making this Prosus’s largest acquisition to date, reports Bloomberg.
Strategic Expansion Under New Leadership
This acquisition is part of a bold growth strategy led by Prosus CEO Fabricio Bloisi, who took the helm last year. Bloisi plans to double the company’s value over the next four years and has a $20 billion war chest to fund expansion, with a focus on Europe.
Bloisi brings extensive expertise in the delivery sector, having built Brazil’s iFood into the country’s leading online food delivery platform. Following the Just Eat Takeaway.com acquisition, he aims to accelerate growth across all of Prosus’s businesses.
The Significance of Just Eat Takeaway.com
Just Eat Takeaway.com, headquartered in Amsterdam, operates in 17 international markets. The platform connects 61 million customers with over 356,000 local partners, making it one of the largest food delivery services globally.
Prosus, a subsidiary of South African parent Naspers Ltd., is well-known for its early investment in Tencent Holdings Ltd. in 2001. The $34 million stake in Tencent has grown to a staggering $140 billion, highlighting Prosus’s strong track record in tech investments.
This landmark acquisition underscores Prosus’s ambitious growth strategy and its commitment to strengthening its position in the global online delivery market. With Just Eat Takeaway.com’s international presence and Bloisi’s leadership, Prosus is well-positioned to scale its operations and drive future growth.
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