Just Eat Takeover hots up

The 4.1-billion-euro acquisition of Just Eat Takeaway is now a step closer after being out forward for approval with the European Commission.

The deal, which hit the headlines in February, is now being scrutinised under antitrust laws as it will tur Prosus – the company seeking to buy the food delivery company – into the fourth largest food delivery group globally. 

Prosus says that it is “very confident” that the deal will go through. In a statement emailed to Reuters, it added: "We are working constructively with the Commission and are fully committed to securing approval and closing the transaction as swiftly as possible."

The newswire adds that the EC will either clear the deal – though might add concessions – or it would decide to launch an investigation. 

Prosus is majority owned by a South African global technology investment venture called Naspers. Its portfolio is diverse, including SoloLearn – a coding education platform, German food delivery company Delivery Hero and WeBuyAnyCar.com. 

Sifted added in February that the deal will see Prosus acquire Just Eat’s entire issued share capital for €20.30 per share. The food delivery company has faced mounting challenges since the end of the Pandemic, when its customer levels surged. It has made mass redundancies and reported a net loss of €1.6bn in 2024. 

“Just Eat Takeaway.com is now a faster growing, more profitable and predominantly European-based business,” CEO Jitse Groen said in a statement as the news broke of the potential acquisition. “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 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,” said Prosus CEO Fabricio Bloisi added in a statement. 

Both companies are now awaiting the EC’s decision.