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Just Eat Sells IFood Stake to Prosus for $1.8 Billion

  • Company previously dismissed a $2.3 billion bid for the stake
  • Prosus will now fully own the Brazilian delivery company
A food delivery courier for Just Eat NV.

A food delivery courier for Just Eat NV.

Photographer: Hollie Adams/Bloomberg
Updated on

Just Eat NV agreed to sell its 33% stake in Latin American joint venture iFood to Prosus NV for as much as 1.8 billion euros ($1.8 billion).

The deal fulfills a pledge to investors and will bolster Just Eat’s balance sheet, albeit at a price below a previous offer for the shares. The company said last year that a 2.3 billion-euro offer for its iFood holdings was inadequate