13th Feb 2020 07:21
(Alliance News) - Delivery Hero SE on Wednesday said it entered into an agreement to buy 8.4 million shares in new food delivery tie-up Just Eat Takeaway.com NV.
The share purchase agreement means the German takeaway firm effectively will restore its 11% stake in Just Eat, which was diluted by the London-listed company's merger with Dutch peer Takeaway.com.
Back in October, Takeaway.com called on Delivery Hero to abstain from a vote on the Dutch firm's takeover of Just Eat, citing a conflict of interest due to Delivery Hero's links with Prosus NV. Prosus, listed in Johannesburg and Amsterdam, made a rival bid to acquire Just Eat.
Takeaway.com noted at the time that Prosus is Delivery Hero's largest shareholder.
Takeaway.com won a bidding war for Just Eat in January, in a deal worth 916p per Just Eat share. South African media and internet investor Prosus NV had offered 800p.
By Eric Cunha; [email protected]
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Related Shares:
Just Eat Takeaw