Uber raises stake in Delivery Hero in $318 million deal

Total gross proceeds to Prosus are approximately 270 million euros ($318 million), the company said. Uber will pay 20 euros a share, which is below Delivery Hero’s Thursday closing price following a 7% rally in the stock. However, it is a 22% premium to the 1-month average share price, Prosus said.

The move comes after Prosus last year offered a deal to buy European food delivery giant Just Eat Takeaway.com for 4.1 billion euros. However, that acquisition ran into scrutiny from the European Commission, the EU’s executive arm, which said it would approve the deal if Prosus significantly reduced its shareholding in Delivery Hero.

“Prosus remains committed to selling the relevant portion of its stake in Delivery Hero within the required timeframe,” the company said in a press release on Friday.

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