Latest news with #JustEatTakeaway
Daily Mail
19-05-2025
- Business
- Daily Mail
Dutch investor targets £3.4bn Just Eat deal after Deliveroo's sale to US rival
Dutch investment firm Protus has formally launched a $4.3billion (£3.4billion) takeover bid for food delivery giant Just Eat Takeaway. The offer follows the £2.9billion takeover of British rival Delivero by Silicon Valley platform DoorDash agreed earlier in May. Protus, which owns Brazil's biggest online takeaway company, iFood, provisionally agreed to acquire Amsterdam-based Just Eat in late February. It will pay €20.30 per share under the deal, a 63 per cent premium to its closing share price on 21 February, the final trading day before the offer period began. Just Eat shares have plunged by around 80 per cent over the past five years following the disastrous acquisition of US rival Grubhub and a demand slowdown after Covid-related restrictions were loosened. The group has responded to weaker trading by selling its stake in iFood to Prosus for €1.8billion and exiting operations in many countries, including France, Norway, and Portugal. It also delisted from the London Stock Exchange and sold Grubhub to restaurant chain Wonder Group for $650million, a fraction of the $7.3billion it spent buying the Chicago-based delivery service in 2020. In its latest trading update, Just Eat reported the overall value of orders on its platform - known as gross transaction value (GTV) - flatlined at €4.7billion in the three months ending March. Over the preceding 12 months, the company's GTV and revenue both declined by 2 per cent at constant currency rates to €26.3billion and €5.1billion, respectively. Fabricio Bloisi, chief executive of Prosus, said: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation. 'With Prosus's strong technical and investment capabilities, combined with JET's leading brand position in key European markets, I'm confident this deal will create tremendous value for our customers, drivers, partners, and shareholders.' Prosus will reportedly become the fourth-biggest food delivery business in the world if it completes the takeover. Just Eat's shareholders will vote on the deal at an extraordinary general meeting in the Dutch capital on 8 July. In addition to iFood, it owns stakes in takeaway operators like India's Swiggy, German firms Flink and Delivery Hero, and Middle East-focused Foodics. Aside from takeaway companies, Prosus has holdings in education technology group Udemy, fintech business Remitly, and Chinese multimedia giant Tencent. Just Eat's prospective acquisition comes just as Deliveroo has accepted a £2.9billion offer from Silicon Valley platform DoorDash. Deliveroo's co-founder, Will Shu, is set to earn £172million from selling his stake in the firm, which made its first annual profit for the first time ever last year.
Yahoo
19-05-2025
- Business
- Yahoo
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Independent
19-05-2025
- Business
- The Independent
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts.
Yahoo
19-05-2025
- Business
- Yahoo
Prosus launches £3.4bn takeover offer for Just Eat in deal ‘milestone'
Dutch technology investor Prosus has formally launched its 4.1 billion euro (£3.4 billion) agreed takeover of Just Eat to create a European tech 'champion'. Prosus, which is majority-owned by South Africa's Naspers, has agreed to pay 20.30 euro (£17.07) a share to buy the takeaway delivery giant. The firm already owns a 28% stake in Just Eat rival Delivery Hero. Just Eat will continue to be based in Amsterdam under its current name and will maintain its key brands following the deal, the firms said. It comes after the pair provisionally agreed the deal in February amid a flurry of deals in the sector, with UK-listed Deliveroo recently announcing a £2.9 billion takeover by its US rival DoorDash. Prosus said it would be the fourth largest food delivery group in the world following the takeover. Jitse Groen, chief executive and founder of Just Eat said: 'The launch of the offer marks an important milestone in the transaction process. 'We are excited about the future and the opportunities this brings and recommend that our shareholders tender their shares and vote in favour of the resolutions at the upcoming extraordinary general meeting.' Fabricio Bloisi, chief executive of Prosus, added: 'Europe is at a pivotal moment to create a new generation of AI-powered tech champions, and this transaction is a unique opportunity to lead that transformation.' Prosus said it 'does not envisage material reductions in the total workforce of the Just Eat Takeaway Group' following the deal. Mr Bloisi has previously said he expects to grow the number of full-time workers Just Eat employs and its number of couriers. Shareholders in Just Just will vote on the deal at a meeting held on July 8 in Amsterdam. The planned all-cash offer comes after a difficult past few years for Amsterdam-based Just Eat, which had enjoyed booming business – and a soaring share price – during the pandemic when households were forced to eat at home, but saw trading and its stock price pare bask sharply when lockdowns ended. Prosus already has a food business spanning 70 countries, with full ownership of Latin American food delivery platform iFood, as well as the stake in Delivery Hero, a 4% holding in global food delivery giant Meituan and a 25% stake in India's recently floated food and grocery delivery platform, Swiggy. It has had its sights on Just Eat for many years, having lost out to Netherlands-based firm in the battle to buy Just Eat in early 2020. Since then, Just Eat bought US food-ordering platform Grubhub in an ill-fated deal, paying 7.3 billion US dollars (£5.8 billion) at the height of the takeaway boom in 2021, only to offload the business for 650 million dollars (£514 million) last November. Just Eat also delisted from the London Stock Exchange last December to focus on its Amsterdam listing amid cost-cutting efforts. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Ravio raises $12m Series A to modernise compensation data for global workforces
Most companies decide salaries using data from 12-18 months ago. Real-time data is changing this. LONDON, May 08, 2025--(BUSINESS WIRE)--Ravio has raised a $12m Series A funding round led by Spark Capital (US) with participation from Blackbird (Australia) and Cherry Ventures (Europe) to modernise how companies manage compensation with real-time market data and decision making tools. Ravio counts leading consumer brands like Just Eat Takeaway and Octopus Energy among its customers, alongside fintech leaders such as Wise, Adyen, and Mollie. Popular tech names like Zoopla and Skyscanner have also chosen Ravio to set their compensation strategies. The compensation data gap Despite representing 70% of operating costs, most companies make these important decisions using patchy data that's 12-18 months old. This outdated approach creates significant issues: Talent leaves when underpaid compared to current market rates Companies overspend on some roles while struggling to attract talent in others Pay inequities develop as new hires and existing staff operate from different reference points "The idea for Ravio was born from running compensation reviews during the early days of building Deliveroo," said Vaso Parisinou, Chief People Officer at Ravio. "We were scaling rapidly, and it was painful finding data from relevant companies. I was building bands across countries, ensuring my data reflected the current market, and trying to fill in gaps for remote markets. It was impossible." Breaking through compensation complexity "Market data hasn't kept pace with today's dynamic market," said Merten Wulfert, co-founder and CEO of Ravio. "We're bringing decades-old survey methodology into the modern age by plugging directly into our customers' HR systems. This approach automates the data collection process and lets us continuously analyse market movements as they happen." Companies that have switched to Ravio's real-time compensation data platform are seeing immediate benefits. HERO Software, a German SaaS company growing from 100 to 250 employees this year, used Ravio to transform their compensation strategy. "When we built salary bands using Ravio, we could immediately see a few outliers – it was easy to spot pay equity issues," explains Anna-Lena Grimm, Director of People & Culture at HERO. The end of aged data Ravio's platform delivers relevant market data across 46+ countries and 100+ roles, helping companies make informed decisions quickly. The platform provides:
