PROSF - Prosus to acquire remaining stake in iFood for Euro1.5B in cash plus a contingent consideration of up to Euro300M
- Prosus N.V. ( OTCPK:PROSF ), majorly owned by Naspers ( OTCPK:NPSNY ) has signed an agreement to acquire the remaining 33.3% stake in iFood, from minority shareholder Just Eat Holding Limited for €1.5B in cash plus a contingent consideration of up to €300M.
- Following the transaction, the company and its affiliate company, Movile will fully own iFood.
- ‘’We first invested in iFood nearly a decade ago and during this time Fabricio and team have built a world-class food delivery business. They have shaped the sector in Brazil, creating a platform that serves 330,000 restaurant partners, provides income opportunity for 200,000 delivery partners, and delivers approximately 70 million orders every month. Increasing our stake to full ownership is a demonstration of our committed and disciplined approach to investment and reflects our confidence in the long-term potential of iFood. We are excited to continue to be a supportive and active partner for iFood as the company steps into its next phase of innovation and growth,” said Bob van Dijk, CEO, Prosus.
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Prosus to acquire remaining stake in iFood for €1.5B in cash plus a contingent consideration of up to €300M