Dutch technology investor Prosus, a subsidiary of Naspers, has sold a 4.5% stake in its Europe food business Delivery Hero to Uber at a 22% premium to last average monthly share price.
Image: File
Prosus said on Friday it had sold a 4,5% stake in its Delivery Hero subsidiary to Uber for about €270 million (R5,4 billion), or at a 22% premium to the one-month average share price.
The Amsterdam-based Naspers subsidiary said the sale price was €20 per share, as of April 16. Prosus was told to reduce its stake in Delivery Hero by the European Commission as part of Prosus’ acquisition of Just Eat Takeaway.com, for which it paid about R80bn.
The transaction represents a step towards fulfilling those commitments. Prosus remains committed to selling the relevant portion of its stake in Delivery Hero within the required timeframe, a statement said.
The European Commission required Prosus to reduce its 27,4% stake in Delivery Hero to a single percentage point within 12 months, or by August.
The Commission feared that Prosus controlling both companies would decrease competition, as both firms were major rivals in the European food delivery sector.
Prosus’ other food delivery businesses include iFood in Brazil, Swiggy in India, and in South Africa, Prosus operates MrDFood, which sits inside the Takealot Group.
Prosus’ share traded 0.31% higher on the JSE on Friday morning at R826.33, barely 1.4% higher than the price it was trading at a year before and some 41% lower than the R1411.15 it traded at three years before.
Delivery Hero’s share price traded 2.78% lower at €20.70, a price trading some 9.2% lower than a year before. Delivery Hero reported record profits in its 2025 financial year.
Just Eat Takeaway.com delisted last year, but its last half-year results in 2025 showed improved profitability with a €583m profit despite a 2% decline in revenue to €1,747m.
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