Prime Highlights
- Prosus CEO Bloisi said large mergers are essential to global competition and Europe must change its approach to build truly big companies.
- EU competition commissioner Ribera said the bloc wants to encourage pro-competitive mergers that help European firms become relevant global players.
Key Facts
- Prosus is a global consumer internet group and Delivery Hero’s largest shareholder, now holding around 21% after the share sale.
- Uber paid 20 euros per share, a 22% premium to Delivery Hero’s one-month average price, valuing the transaction at roughly 270 million euros.
Background
Uber has agreed to acquire an additional 4.5% stake in German food delivery company Delivery Hero from Prosus, the firm’s largest shareholder. The deal values the transaction at approximately 270 million euros, with Uber paying 20 euros per share — a 22% premium over the one-month average share price.
The sale forms part of Prosus’s effort to reduce its holding in Delivery Hero, a condition tied to its proposed 4.1 billion euro acquisition of European food delivery giant Just Eat Takeaway.com. The European Commission said it would only approve that deal if Prosus significantly cut its stake in Delivery Hero. Prosus now maintains a stake of approximately 21% in the company, which has decreased from its previous 27% ownership at the time of the Just Eat Takeaway.com acquisition announcement.
Prosus confirmed it remains committed to selling the required portion of its Delivery Hero stake within the stipulated timeframe. Uber first entered Delivery Hero in 2024 when it purchased 300 million dollars worth of newly issued shares.
The transaction comes as European regulators reassess their approach to large mergers. The European Commission is reportedly considering giving greater weight to innovation, investment and market resilience when evaluating deals. Europe’s competition commissioner Teresa Ribera said the bloc wants to encourage mergers that allow European firms to compete as relevant players in global markets.
Prosus CEO Fabricio Bloisi has previously argued that Europe’s restrictive approach to consolidation prevents the creation of globally competitive companies. He said large mergers are essential to compete on the world stage and called for a shift in regulatory thinking.
