Prosus offloads 4.5% of Delivery Hero to Uber for €270-million

Prosus, the Naspers subsidiary, has sold a 4.5% stake in Delivery Hero to Uber Technologies for approximately €270 million, pricing shares at €20 each — a 22% premium to the one-month volume-weighted average price. The sale reduces Prosus's holding in the Frankfurt-listed food delivery group from 26.3% to 21.8%. The divestment fulfills a European Commission regulatory condition tied to Prosus's €4.1-billion acquisition of Just Eat Takeaway.com, which required Prosus to significantly reduce its Delivery Hero stake within 12 months. Prosus has also reportedly held talks with Hong Kong-based Aspex Management about selling a further 10% stake, and has committed to divesting its remaining Delivery Hero shares within the regulatory timeframe.