Embark on a Flavorful Journey with the Editor’s Digest
Are you ready to delve into a world of delectable stories handpicked by Roula Khalaf, the esteemed Editor of the FT? Join us on a culinary exploration of Just Eat Takeaway.com as it gets ready to be embraced by the investment group Prosus in a whopping €4bn deal, leading to its departure from public markets. Let’s uncover the highlights of this exciting development!
- A Lucrative Deal:
- Prosus has made a striking all-cash offer of €20.30 per share for Just Eat, a generous 22% premium over its three-month high. This move solidifies Prosus’s position in the European food delivery market and sets the stage for exciting transformations.
- A Rollercoaster Ride:
- Just Eat’s journey has been nothing short of eventful, with soaring shares during the pandemic followed by a sharp decline post-lockdowns. The acquisition of Grubhub for $7.3bn in 2021 and its subsequent sale for $650mn in November 2022 epitomize the company’s dynamic nature.
- Growth Plans Unveiled:
- Fabricio Bloisi, the visionary new chief executive of Prosus, is steering the ship towards ambitious growth horizons. With aspirations to create a European tech powerhouse, the Just Eat acquisition stands as a testament to Bloisi’s strategic vision and leadership.
- Building a Tech Empire:
- Bloisi’s impressive track record at iFood, the dominating food delivery app in Brazil, positions him as a catalyst for change at Prosus. With plans to enhance the market value of Prosus and tighten its grip on investments like Tencent, Bloisi’s tenure promises exciting developments.
As we witness the evolution of Just Eat under Prosus’s stewardship, we are on the brink of witnessing the birth of a European tech giant. The fusion of culinary delights with technological prowess heralds a new era in the food delivery landscape. Join us as we savor each chapter of this transformative narrative, brimming with promise and potential.
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