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Just Eat: sells iFood stake to Prosus for 1.8 billion

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Petrol down to 1,770 with the discount, at the levels of January (ANSA)

(ANSA) – ROME, AUGUST 19 – Just Eat will sell its 33% stake in the Latin American joint venture iFood for an amount of up to 1.8 billion euros (1.8 billion dollars). The Bloomberg agency reports, citing a press release from the meal ordering and delivery company. Prosus, a Dutch multinational that provides internet-based services, will pay 1.5 billion euros in cash upon closing the agreement and an additional sum of up to 300 million in the following 12 months, based on the company’s performance. Just Eat has indicated that it will use the proceeds of the operation to strengthen its balance sheets and repay the debt.

The transaction is expected to close in the fourth quarter. The company also said it is still working on the partial or full disposal of the Grubhub subsidiary. (HANDLE).

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Source: Ansa

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