By Najat Kantouar
Prosus agreed to sell part of its stake in Delivery Hero to Aspex Management for around 335 million euros ($394.9 million), marking the latest step in reducing its shareholding in the German delivery company.
The move comes weeks after it sold around 4.5% of its stake in Delivery Hero to U.S. tech company Uber, as part of remedies tied to its acquisition of Just Eat Takeaway.
In August, the European Commission approved Prosus's acquisition of Just Eat Takeaway.com, subject to commitments requiring the investor to significantly reduce its shareholding in Delivery Hero.
The Amsterdam-listed technology investor said Monday that it has agreed to sell around 15.2 million ordinary shares in Delivery Hero to Hong Kong based investment firm Aspex Management, representing roughly 5% of Delivery Hero's issued share capital.
The agreed price of 22 euros a share is a roughly 10% premium to Delivery Hero's closing share price and an around 22% premium to the stock's 30-day volume-weighted average price as of Friday, it said.
The transaction is expected to generate gross proceeds of around 335 million euros, Prosus said.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
05-11-26 0250ET
