Simply Eat Takeaway stated it was delisting its shares from the London Inventory Alternate because of the “low liquidity and buying and selling volumes” of its shares on the change.
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European meals supply big Just Eat Takeaway.com is poised to be acquired by Dutch know-how investor Prosus in an all-cash deal value roughly 4.1 billion euros ($4.3 billion).
The provide values Simply Eat’s shares at 20.3 euros every, representing a premium of 63% when in comparison with the agency’s closing value on Friday.
Prosus, which is majority owned by South Africa’s Naspers, already holds a 28% stake in main meals supply firm Delivery Hero.
“We’re very excited for Simply Eat Takeaway.com to affix the Prosus group and the chance to create a European tech champion,” Fabricio Bloisi, CEO of Prosus and Naspers group, stated in an announcement.
“We consider that combining Prosus’ robust technical and funding capabilities with Simply Eat Takeaway.com’s main model place in key European markets will create important worth for our prospects, drivers, companions, and shareholders,” Bloisi stated.
Simply Eat
The provide comes after a rocky few years for Simply Eat. Like many different meals supply corporations, the corporate’s inventory value collapsed within the wake of the coronavirus pandemic, which had initially boosted the corporations as shoppers turned to those platforms throughout lockdowns.
A stark shift in shopper habits since, nevertheless, led to a pointy deceleration in development charges.
The Dutch multinational delisted from the London Inventory Alternate late final yr, citing an effort to “cut back the executive burden, complexity and prices related to the disclosure and regulatory necessities of sustaining the LSE itemizing.” The transfer made Amsterdam the agency’s sole buying and selling venue.
In November, Simply Eat Takeaway.com stated it will promote its GrubHub arm to New York-based on-line takeout startup Surprise for $650 million — an enormous low cost in comparison with the $7.3 billion the agency paid for the U.S. meals supply app.
“Prosus totally helps our strategic plans and its intensive sources will assist to additional speed up our investments and development throughout meals, groceries, fintech and different adjacencies. We’re trying ahead to an thrilling future collectively,” Jitse Groen, CEO and founding father of Simply Eat Takeaway.com, stated in an announcement on Monday.
— CNBC’s Ryan Browne contributed to this report.
