The transaction involves the sale of 13.6 million shares at €20 each, representing a roughly 22% premium to Delivery Hero’s one-month volume-weighted average share price as of mid-April. The deal will generate gross proceeds of about €270 million, equivalent to approximately $290 million at current exchange rates.
The disposal reduces Prosus’s stake in Delivery Hero from 26.3% to 21.8%, marking a notable shift in its position within the global food delivery sector. The sale comes as part of regulatory requirements tied to Prosus’s planned acquisition of Just Eat Takeaway, a deal valued at roughly $4.6 billion.
The European Commission had instructed Prosus to lower its shareholding in Delivery Hero to address competition concerns arising from the takeover. In a brief statement, Prosus said it “remains committed to selling the relevant portion of its stake within the required timeframe”.
Naspers, one of Africa’s most valuable companies, maintains a broad portfolio spanning e-commerce, classifieds, and food delivery, although much of its valuation is tied to its stake in Tencent.
The partial exit from Delivery Hero reflects a broader realignment of Prosus’s food delivery investments as regulatory scrutiny intensifies in Europe. For Uber, the purchase strengthens its exposure to a key global delivery platform, underscoring continued consolidation in the sector.
