Just Eat Takeaway has entered into a definitive agreement to divest its 33% (approx.) stake in iFood to Prosus in return for a cash consideration of up to €1.8 billion.
Just Eat has entered into an agreement with MIH Movile Holdings, an affiliate of Prosus, for the sale of the equity stake.
iFood, a joint venture between iFood Holdings and IF-JE Holdings, is an online food and delivery platform serving the Latin American region.
The transaction consideration will comprise €1.5 billion in cash on closing and a deferred consideration – which is reliant on the performance of the online food delivery sector over the next twelve months – of up to €300 million.
According to Just Eat Takeaway, it remains “focused on improving its profitability and on a disciplined allocation of capital”. The company will retain the transaction proceeds to “maintain its balance sheet strength” and to “service repayments of its upcoming debt maturities”.
The transaction is subject to approval by the company’s general meeting.
By Lauren Ford
L’Oréal has acquired Lactobio, a Dabish probiotic and microbiome research company based in Copenhagen. Lactobio was founded in 2017 by Søren Kjærulff and Charlotte Vedel, who developed a proprietary microbiome discovery platform and screening method to select the most effective and safe strains.
Deliveroo introduces “Deliveroo Shopping,” an on-demand online retail service alongside its existing restaurant food and grocery offering. With personal care and cosmetics on offer, the platform will host a range of retail products, from electronics to pet food, from flowers to toys.
The funds will be primarily allocated to boost business growth, integrate new technologies in the industry, expand manufacturing facilities, transform its portfolio and advance the sustainability agenda in Nestlé’s chocolate, coffee, pet care and nutrition segments in Brazil.