Prosus’ $4.8 Billion Just Eat Deal Wins Conditional EU Approval

Prosus NV’s planned €4.1 billion ($4.8 billion) takeover of Just Eat Takeaway.com has won conditional approval from the European Union, after the Dutch food delivery firm agreed to reduce its stake in another rival to allay competition concerns.

EU fears over potential market distortions were allayed by a pledge from Prosus to cut its holding in Delivery Hero SE to an unspecified “very low percentage within 12 months,” the European Commission said in a statement on Monday.