Just Eat buyout: Take it away, Naspers, and that’s an order

Business

Just Eat buyout: Take it away, Naspers, and that’s an order

Naspers, through its subsidiary Prosus, aims for world domination in the online food delivery market

Mudiwa Gavaza

How much is Africa’s largest technology investor willing to spend to achieve world domination in the online food delivery market – to ultimately beat giants like UberEats? 

In what is perhaps its biggest deal to date, Naspers (https://www.sharenet.co.za/v3/quickshare.php?scode=NPN), through its subsidiary Prosus (https://www.sharenet.co.za/v3/quickshare.php?scode=PRX), has bid to buy out UK-based food delivery company Just Eat for £4.9bn (R92.6bn), a staggering amount by any measure. 

If successful, Prosus would finance the the all-cash offer through debt from lenders such as JP Morgan Chase. Then it would have to spend even more to beef up Just Eat’s ability to process orders, attract new customers to its digital platforms ,and gain more restaurant partners. ..

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