economy
Uber raises stake in Delivery Hero in $318 million deal
Prosus has been forced by European regulators to sell down its Delivery Hero stake in order to proceed with a proposed acquisition of Just Eat.
TL;DR
- Uber acquired an additional 4.5% of Delivery Hero shares from Prosus for approximately 270 million euros ($318 million).
- Prosus is selling down its stake in Delivery Hero to meet European Commission requirements for its Just Eat Takeaway.com acquisition.
- Prosus's ownership in Delivery Hero has decreased from about 27% to around 21%.
- European regulators are reportedly considering changes to merger rules, potentially giving more weight to innovation, investment, and market resilience.
- Prosus CEO previously criticized Europe's merger approach for hindering the creation of large, globally competitive companies.