Prosus, the Naspers-controlled technology investment giant, has sold a 4.5% stake in the German food delivery platform Delivery Hero to Uber Technologies. The transaction, valued at approximately €270 million, represents a strategic move to satisfy regulatory requirements set by the European Commission.
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Under the terms of the agreement, Prosus sold roughly 13.58 million ordinary shares at €20 per share. This price reflects a 22% premium over the one-month volume-weighted average price as of mid-April 2026. Following the settlement of this deal, Prosus’s total interest in the Frankfurt-listed company will decrease from 26.3% to 21.8%.
This divestment is a direct result of Prosus’s €4.1-billion acquisition of Just Eat Takeaway.com in early 2025. To clear the merger, the European Commission mandated that Prosus significantly reduce its holding in Delivery Hero to prevent anti-competitive dominance in the European market. Key conditions of the approval included:
- Strict Timelines: A requirement to cut the Delivery Hero stake within 12 months of the deal’s clearance.
- Governance Restrictions: A prohibition on nominating directors with ties to Naspers or Prosus to Delivery Hero’s management or supervisory boards.
The Just Eat acquisition, which became unconditional in October 2025, propelled Prosus to the position of the world’s fourth-largest food delivery group. Its global portfolio now includes a dominant presence in 17 European countries, Latin America’s iFood, India’s Swiggy, and China’s Meituan.
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The sale to Uber may be only the beginning of Prosus’s exit from the German operator. Reports indicate that Prosus has held preliminary talks with Aspex Management—Delivery Hero’s second-largest shareholder—regarding the potential sale of an additional 10% stake. Aspex has notably been vocal about seeking leadership changes within Delivery Hero’s executive suite.
Prosus has reaffirmed its commitment to completing the full divestment of its remaining Delivery Hero shares within the mandated regulatory timeframe while focusing on maximizing value for its own shareholders.
