Prosus Wins European Union's Conditional Nod For Just Eat Deal

Prosus NV and Just Eat Takeaway.com said on Monday that the companies have received approval from the European Union for their €4.1 billion ($4.8 billion) deal.

Prosus and Just Eat said they have obtained competition clearance from the European Commission and have now received all regulatory clearances required to close the deal. Retail sentiment on Just Eat improved to ‘bullish’ from ‘neutral,’ compared to a day ago, with chatter at ‘normal’ levels, according to Stocktwits data.

“We’re thrilled by the European Commission’s swift approval of our acquisition of JET. Innovation doesn’t wait, and we can now get to work quickly, as AI is rapidly reshaping food delivery. This milestone marks a bold investment in Europe’s AI future and strengthens our commitment to the continent,” Fabricio Bloisi, Prosus’s CEO, said.

Prosus has engaged with the European Commission to agree on a targeted set of commitments to secure regulatory clearance, which includes a reduction of Prosus’s equity stake in Delivery Hero over 12 months, the companies said.

This will result in Prosus no longer being the largest shareholder in Delivery Hero. In addition, Prosus will not recommend or appoint any future individual connected with Naspers or Prosus to the Delivery Hero management, supervisory boards, or governing bodies, they added.

According to a Bloomberg News report, which first reported on the news, the decision “sends a clear warning to an industry with recent antitrust issues: we won’t tolerate any anticompetitive behavior that may harm consumers,” said Teresa Ribera, the EU’s competition commissioner.

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