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"title": "Prosus to buy Just Eat to create a European food delivery 'champion'",
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"description": "Daily Maverick is an independent online news publication and weekly print newspaper in South Africa.\r\n\r\nIt is known for breaking some of the defining stories of South Africa in the past decade, including the Marikana Massacre, in which the South African Police Service killed 34 miners in August 2012.\r\n\r\nIt also investigated the Gupta Leaks, which won the 2019 Global Shining Light Award.\r\n\r\nThat investigation was credited with exposing the Indian-born Gupta family and former President Jacob Zuma for their role in the systemic political corruption referred to as state capture.\r\n\r\nIn 2018, co-founder and editor-in-chief Branislav ‘Branko’ Brkic was awarded the country’s prestigious Nat Nakasa Award, recognised for initiating the investigative collaboration after receiving the hard drive that included the email tranche.\r\n\r\nIn 2021, co-founder and CEO Styli Charalambous also received the award.\r\n\r\nDaily Maverick covers the latest political and news developments in South Africa with breaking news updates, analysis, opinions and more.",
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"contents": "<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-0\">JOHANNESBURG, Feb 24 (Reuters) - Dutch technology investor Prosus has agreed to buy Just Eat Takewaway.com for 4.1 billion euros ($4.3 billion) to create a \"European tech champion\" of food delivery, it said on Monday.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-1\">Prosus' move comes nearly five years after it lost a takeover battle for Just Eat to in a 5 billion pound ($6.3 billion) <a class=\"text__text__1FZLe text__inherit-color__3208F text__inherit-font__1Y8w3 text__inherit-size__1DZJi link__link__3Ji6W link__underline_default__2prE_\" href=\"https://www.reuters.com/article/business/just-eat-caught-up-in-5-billion-pound-festive-food-fight-idUSKBN1YG0Y4/\" data-testid=\"Link\">showdown</a> against Takeaway.com. It is now poised to buy the merged entity at a significantly lower price than its original 2019 offer.</div>\r\n<div data-testid=\"paragraph-1\"></div>\r\n<div data-testid=\"paragraph-1\">\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-2\">The investment firm, majority owned by South Africa's Naspers , is also the biggest shareholder in Glovo owner Delivery Hero with a 28% stake.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-3\">The acquisition would mark a significant shift in the European food delivery market and have potential global implications, as it would make Prosus the fourth largest food delivery company in the world behind Meituan, DoorDash and Uber, ING analysts said in a note.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-4\">With a food business spanning more than 70 countries, Prosus also owns Latin America's top food delivery platform iFood, has a 25% stake in India's leading food and grocery delivery platform Swiggy and a 4% stake in Meituan, it said.</div>\r\n</div>\r\n<div data-testid=\"paragraph-4\"></div>\r\n<div data-testid=\"paragraph-4\">\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-5\">The food delivery sector has seen dramatic swings since the COVID-19 pandemic, with Just Eat Takeaway.com's market value plummeting from its peak of over 100 euros per share in October 2020, when lockdowns drove unprecedented demand for home-delivered meals.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-6\">Prosus' offer of 20.30 euros per share for the entire share capital is unanimously supported by Just Eat's management and supervisory board.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-7\">Shares in Prosus fell 6.5% in Amsterdam by 1327 GMT on Monday, while Just Eat surged 54% to match the premium of the offer price. Naspers' shares fell 6% in Johannesburg.</div>\r\n</div>\r\n<div data-testid=\"paragraph-7\"></div>\r\n<div data-testid=\"paragraph-7\">\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-8\">Shares in Delivery Hero jumped 5%. A German trader said some analysts were seeing the deal as a first step towards a merger between the Dutch and German groups.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-9\">Prosus CEO Fabricio Bloisi said there was no plan or project on Delivery Hero right now.</div>\r\n</div>\r\n<div data-testid=\"paragraph-9\"></div>\r\n<div data-testid=\"paragraph-9\">\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-10\">\"Our focus is growth and with growth we expect to create more jobs in many dimensions. More jobs in technology sector but also more jobs in restaurants and more opportunities for drivers too,\" he told reporters in a call, referring to Just Eat.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-11\">Bloisi added that the new technology investment, including AI, would be aimed at making Just Eat's delivery model more efficient.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-12\">\"We are not looking forward to other big news in food delivery or acquisitions right now,\" he said.</div>\r\n<div class=\"article-body__element__2p5pI\"></div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-13\">Just Eat's management will remain in place and the company will stay based in Amsterdam, its CEO Jitse Groen said in a separate media call.</div>\r\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-14\">Earlier on Monday, Just Eat reported 36% growth in its 2024 <a class=\"text__text__1FZLe text__inherit-color__3208F text__inherit-font__1Y8w3 text__inherit-size__1DZJi link__link__3Ji6W link__underline_default__2prE_\" href=\"https://www.reuters.com/business/retail-consumer/just-eat-takeaway-posts-growth-2024-core-profit-2025-02-24/\" data-testid=\"Link\">core profit</a>.</div>\r\n<div class=\"article-body__element__2p5pI\">\r\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__extra_small__1Mw6v body__full_width__ekUdw body__extra_small_body__3QTYe sign-off__text__PU3Aj sign-off__no-margin-top__2e9N-\" data-testid=\"Body\">Reporting by Nqobile Dludla in Johannesburg and Leo Marchandon in Gdansk, additional reporting by Paolo Laudani and Toby Sterling; Editing by Tom Hogue and Milla Nissi</p>\r\n\r\n</div>\r\n</div>",
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