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Uber Buys Delivery Hero Stake from Prosus

17 Apr

Summary

Prosus sold a 4.5% stake in Delivery Hero to Uber.
The transaction is valued at approximately 270 million euros.
This sale helps Prosus meet EU conditions for another acquisition.

Uber Buys Delivery Hero Stake from Prosus

In a significant development within the food delivery sector, Prosus announced on Friday an agreement to divest a 4.5% stake in German company Delivery Hero to ride-sharing giant Uber. The transaction, valued at approximately 270 million euros, involves the sale of 13.6 million Delivery Hero shares at 20 euros each.

This strategic share sale by Prosus will reduce its ownership in Delivery Hero to 21.8%, down from its previous 26.3% holding. The divestment is a crucial step for Prosus as it seeks to comply with conditions stipulated by the European Commission. These conditions are linked to Prosus's acquisition of Just Eat Takeaway and are designed to address potential competition issues within the food delivery industry.

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