share_log

Just Eat Takeaway.com Shares Soar On $1.8B IFood Stake Sale

Benzinga Real-time News ·  Aug 19, 2022 14:50
  • Just Eat Takeaway.com NV (OTC:JTKWY) has agreed to sell its stake of 33% in Brazil's iFood to Prosus NV (OTC:PROSY) for up to €1.8 billion ($1.8 billion).
  • The transaction consideration will comprise €1.5 billion in cash on closing and deferred consideration of up to €300 million.
  • The consideration represents an equity multiple of over five times on the investments over the life of the joint venture. 
  • The company expects to complete the deal in the fourth quarter of 2022. It intends to retain the proceeds to maintain its balance sheet strength and repay its upcoming debt maturities.
  • Price Action: JTKWY shares are trading higher by 26.20% at $4.19 on the last check Friday.
Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment