Just Eat Takeaway has sold its one-third stake in Latin American delivery app business iFood, in a deal worth up to €1.8bn that provides a vital cash injection to the company under pressure from changing consumer tastes since the pandemic.
Through the transaction, Dutch investment group Prosus will acquire the remaining third of the iFood business it does not already own.
Movile, an affiliate of Prosus, will pay €1.5bn in cash with a further €300mn contingent on the performance of the online delivery food sector over the next 12 months.
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