Just Eat Takeaway.com completes sale of iFood stake

Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY), hereinafter the "Company", or together with its group companies "Just Eat Takeaway.com” has today completed the sale of its equity stake in iFood to Prosus N.V. (“Prosus”) (the “Transaction”).

The disposal of the iFood stake for the initial consideration of €1.5 billion was completed today. Just Eat Takeaway.com remains focused on improving its profitability and on a disciplined allocation of capital. It will retain the Transaction proceeds to maintain its balance sheet strength and to service repayments of its upcoming debt maturities.

On 19 August 2022, Just Eat Takeaway.com announced that it had entered into an agreement with MIH Movile Holdings B.V. (“Movile”), an affiliate of Prosus, regarding the sale of the Company’s equity stake of approximately 33% in iFood. The Transaction consideration comprises €1.5 billion in cash on closing and deferred consideration, contingent on the performance of the online food delivery sector over the next twelve months, of up to €300 million.

Disclaimer

Statements included in this press release that are not historical facts are, or may be deemed to be, forward-looking statements, including "forward-looking statements" made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "anticipates", "expects", "intends", "may" or "will" or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results, reflect the Company's current view with respect to future events and are subject to risks relating to future events, including risks from or uncertainties related to innovation; competition; brand & reputation; acquisitions; global strategic projects; technological reliability and availability; social change, legislation & regulation; data security and privacy; financial reporting, people, operational complexity of hybrid model and integration & transformation, as well as those contained in the Company's filings with the SEC, including the Company's registration statement on Form 20-F and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov, and the Company's Annual Reports, which may be obtained free of charge from the Company's corporate website, https://justeattakeaway.com. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. Forward-looking statements reflect knowledge and information available at, and speak only as of, the date they are made, and the Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this announcement. Readers are cautioned not to place undue reliance on such forward-looking statements.