The European Commission on Monday granted conditional antitrust clearance for Prosus’s €4.1 billion ($4.8 billion) takeover of Just Eat Takeaway.com, removing the last regulatory obstacle to a deal first announced in February. To address competition concerns, Prosus—majority-owned by South Africa’s Naspers—agreed to slash its 27.4% holding in rival Delivery Hero to below a specified ‘very low’ threshold within 12 months, refrain from exercising voting rights on the remaining stake, and avoid raising its interest or nominating directors. EU competition chief Teresa Ribera said the binding commitments ‘preserve both competition and consumer choice’ in the online food-delivery market. Prosus said the Commission’s decision allows it to declare the offer unconditional within three business days if at least 67% of Just Eat shareholders accept by the 1 October deadline. Combining the two companies would create what Prosus calls a ‘European tech champion’, positioning the group as the world’s fourth-largest food-delivery provider behind Meituan, DoorDash and Uber.
EU Commission Approves $4.8 Billion Prosus' Takeover of Just Eat Takeaway https://t.co/a5YTpri9TX
Prosus wins conditional EU antitrust nod for Just Eat Takeaway deal https://t.co/VmFnLYfQke https://t.co/VmFnLYfQke
The EU on Monday conditionally approved Dutch investment group Prosus's bid to buy Just Eat Takeaway [dot] com for 4.1 billion euros ($4.8 billion). https://t.co/IY4kp5dwbj https://t.co/3eT7eDpcnj