Prosus Cedes Delivery Hero Stake to Uber in R5.2 Billion Regulatory Divestment

Prosus sells a 4.5% stake in Delivery Hero to Uber for R5.2 billion to meet EU regulatory requirements following its takeover of Just Eat Takeaway.

By: AXL Media

Published: Apr 17, 2026, 7:43 AM EDT

Source: Information for this report was sourced from BusinessTech

Mandatory Divestment Triggers Billion-Rand Deal with Uber

Naspers, a cornerstone of the South African technology landscape, has executed a strategic sale of 13,582,342 ordinary shares in Delivery Hero SE to Uber Technologies. The transaction, valued at roughly €270 million (R5.2 billion), was not a voluntary exit but a calculated response to antitrust requirements. Following the massive R83 billion acquisition of Just Eat Takeaway.com (JET) in late 2025, the European Commission stipulated that Prosus must significantly reduce its influence in competing platforms to maintain a fair market environment. By selling this 4.5% slice to Uber, Prosus moves closer to fulfilling its legal commitment to distance itself from Delivery Hero's commercial strategy.

Strategic Premium Secured Despite Forced Sale Conditions

The deal was finalized at a price of €20.00 per share, representing a significant 22% premium over the one-month volume-weighted average price as of April 16, 2026. This financial success allows Prosus to monetize a portion of its holding while adhering to the 12-month divestment window set by European regulators. Upon the conclusion of this specific transaction, Prosus’s total interest in the Frankfurt-listed Delivery Hero will drop from 26.3% to 21.8%. Despite the reduction, the group remains a prominent shareholder but is bound by further commitments not to exercise voting rights or influence board appointments at the German firm.

European Commission Targets Tacit Coordination in Food Logistics

The regulatory scrutiny stems from concerns that Prosus's simultaneous ownership of Just Eat Takeaway and a major stake in Delivery Hero could lead to "tacit coordination." Regulators feared that such an overlap would diminish incentives for these companies to compete, potentially leading to higher consumer prices or restricted market entry within the European Economic Area. To preserve competition, Naspers and Prosus agreed to lower their shareholding below a confidential "very low percentage" threshold. The entry of Uber as a buyer provides a convenient exit path while strengthening Uber's own ambitions in the European delivery ecosystem.