Prosus is “very confident” of securing early EU antitrust approval for its 4.1-billion-euro ($4.72 billion) acquisition of Just Eat Takeaway.com, the Dutch technology investor said on Monday.
Prosus sought approval for the deal from the European Commission on Friday, the company told journalists, as it seeks to create what it calls a “European tech champion” of food delivery.
“We are working constructively with the Commission and are fully committed to securing approval and closing the transaction as swiftly as possible,” the company, which is majority owned by South Africa’s Naspers, said in a separate emailed statement.
Prosus owns 27.4% of Delivery Hero that competes with Just Eat in some EU markets. It said it does not expect this to be an issue for the EU antitrust watchdog as it does not operate or influence the German online food takeaway company.
The Commission, which acts as the competition enforcer in the 27-country European Union, confirmed receipt of Prosus’ request and set a July 28 deadline for its preliminary review of the deal.
It could clear the deal with or without concessions, or it could open a four-month investigation at the end of its preliminary review if it has serious concerns.
The deal would make Prosus the world’s fourth-largest food delivery company after Meituan, DoorDash and Uber, according to ING analysts.
Earlier on Monday, Prosus reported a 47% jump in annual earnings, while e-commerce revenue rose 21% on advances in artificial intelligence and innovation.
(Reporting by Foo Yun Chee)
