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Prosus to Sell 4.5% Stake in Delivery Hero to Uber for $318 Million
Uber will lift its Delivery Hero stake to about 7% as Prosus trims holdings to satisfy European Commission competition conditions.
- On Friday, San Francisco-based Uber agreed to purchase a 4.5% stake in Berlin-based Delivery Hero from Amsterdam-based Prosus for approximately 270 million euros , becoming the fourth-largest shareholder.
- The sale helps Prosus fulfill conditions set by the European Commission for its acquisition of Just Eat Takeaway, which required the firm to significantly reduce its shareholding in Delivery Hero to address competition concerns.
- Prosus sold 13.6 million shares at 20 euros each, a 22% premium to the 1-month average price, yet Jefferies analysts stated, "We are baffled by Prosus' actions here," citing the low strike price.
- This purchase increases Uber's total stake in Delivery Hero to about 7%, with Delivery Hero CEO Niklas Oestberg stating, "Uber's increased position is a meaningful endorsement of our platform, our strategy, and our ongoing work."
- Prosus must reduce its holding to single digits by August to meet regulatory requirements, while Uber is aggressively expanding European food-delivery services, targeting an additional $1 billion in gross bookings over three years across Austria, Greece, and Denmark.
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The IndependentReposted by 
perspectivemedia.com
perspectivemedia.comUber ups stake in Delivery Hero in £235 million deal
Just Eat Takeaway’s owner Prosus is selling its stake in Delivery Hero to appease EU competition concerns.
·London, United Kingdom
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Prosus sells Delivery Hero stake to Uber for $290m
Prosus did not choose to sell. Brussels made that decision for it.The Amsterdam-based technology investor, majority-owned by South African group Naspers, has agreed to sell 13.6 million shares in German food delivery company Delivery Hero to Uber Technologies at €20 per share, generating gross proceeds of roughly €270 million, equivalent to about $290 million. The price represents a 22% premium to Delivery Hero's one-month volume-weighted averag…
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