March 2, 2020 / 8:03 AM / a month ago

Just Eat Takeaway takes action against Delivery Hero over stake

LONDON (Reuters) - Online food delivery company Just Eat Takeaway (TKWY.AS) said on Monday it had started arbitration proceedings against a move by rival Delivery Hero (DHER.DE) to increase its stake in the company because it said it broke a standstill undertaking.

German-based Delivery Hero said last month it had entered into an agreement to acquire 8.4 million shares in Just Eat Takeaway for 798 million euros ($881 million), financed by a multi-year equity collar transaction, which included about 400,000 shares it acquired when it sold its German food delivery businesses to last year.

Reporting by Paul Sandle; editing by Kate Holton

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below