Prosus puts 4.1 billion euros on the table, or 20.30 euros per share. That was about 63 percent more than the race at the end of February, when the deal was announced.
European Tech Champion
The Brussels approval is faster than expected and CEO Fabricio Bloisi from Prosus is happy with that. “Innovation is not waiting, artificial intelligence is changing the world of meal delivery rapidly,” he says in an explanation.
“With the acquisition, we bring the familiar brands and the leading market positions of Jet together with the technical expertise and the global scale of Prosus. We are building a real European tech champion and lead meal delivery to the next innovative phase.”
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In order to agree, Prosus must reduce its interest in competitor Delivery Hero within a year to below 10 percent. According to Reuters, it is still 27.4 percent. According to Reuters, EU Commissioner Teresa Ribera said that these concessions retain the competition and freedom of choice for consumers.
“This decision is also a clear warning to a sector that recently had to deal with competition problems: we do not tolerate competitive behavior that can harm consumers.”
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Jet remains in Amsterdam and retains his most important brands. The company is active in seventeen countries, has 61 million customers and 8,000 employees. Prosus already has interests in meal deliverers in more than seventy countries, such as Delivery Hero and Indian Swiggy.