15th Jun 2015 17:24
LONDON (Alliance News) - Just Eat PLC Monday said it completed the acquisition of Australian online takeaway company Menulog Group Ltd, adding that 72.5% of the shares available under the related open offer were taken up.
Just Eat announced the acquisition back in May, and said it would launch a placing and open offer of shares to raise GBP445 million to back the acquisition. On June 9, the company said 41.33% of the shares available under the open offer had been taken up.
On Monday, Just Eat said 72.5% of the available shares available under the open offer had been taken up. It had already said that its major shareholders, which held 42.97% of its share issuance ahead of the placing and open offer, wouldn't take up their entitlement under the open offer.
Just Eat has purchased Menulog for AUD855 million, financed partially by the placing and open offer. Menulog has more than 5,500 restaurants and 1.4 million consumers, Just Eat said, and its order volume grew 96% in the year in the three months ended March 31. It generated GBP13.5 million in revenue in the year to March 31.
Just Eat shares closed down 0.3% to 426.40 pence per share on Monday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Just Eat