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
Source: foodbev.com
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
