The European Commission has conditionally approved Prosus’ €4.1 billion ($4.77 billion) bid to acquire Just Eat Takeaway.com, removing a major regulatory hurdle for the Dutch tech investor and paving the way for the deal to close, which oversees competition policy across the European Union, granted approval after Prosus agreed to a series of concessions aimed at preserving competition in the food delivery sector. Among the commitments, Prosus will reduce its stake in German delivery firm Delivery Hero and refrain from influencing its governance or exercising voting rights tied to its remaining shares. Prosus, a subsidiary of South African conglomerate Naspers and the largest shareholder in Tencent, announced the acquisition plan in February. The deal is expected to position the company as the world’s fourth-largest food delivery platform, enhancing its ability to compete with global players such as Uber Eats.
The food delivery industry has faced increased scrutiny in Europe amid rising prices and shifting consumer behavior post-pandemic. Earlier this year, the Commission fined Delivery Hero and Spain’s Glovo €329 million for anti-competitive practices, including sharing sensitive business information and agreeing not to recruit each other’s employees. Prosus stated that the acquisition will allow Just Eat to integrate advanced AI tools into its operations, improving efficiency and customer experience. In a joint statement, both companies confirmed that all necessary regulatory approvals have now been secured.
“We’re thrilled by the European Commission’s swift approval,” said Prosus CEO Fabricio Bloisi. “Our ambition is clear: to build a true European tech champion and lead the next chapter in food delivery innovation.”
The transaction is expected to close later this year, following the extended acceptance period which runs through October.