Just Eat Takeaway.com N.V. (LSE: JET, AMS: TKWY), hereinafter the "Company", or together with its group companies "Just Eat Takeaway.com”, announces that the contingent consideration on the disposal of its stake in iFood amounted to €6 million and will be settled before year end.
On 19 August 2022, Just Eat Takeaway.com announced that it had entered into an agreement with MIH Movile Holdings B.V., an affiliate of Prosus N.V., regarding the sale of the Company’s equity stake of approximately 33% in iFood. The Transaction consideration comprised €1.5 billion in cash on closing and deferred consideration of up to €300 million, contingent on the performance of the online food delivery sector over the twelve months following the announcement of the transaction. On the conclusion of this period, the contingent consideration was assessed by an independent expert investment bank, based on the prescribed methodology, to be €6 million. As a reminder, as at 30 June 2023, the estimated fair value of the contingent consideration was €5 million.
Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are, or may be deemed to be, forward-looking statements, including "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "anticipates", "expects", "intends", "may", or "will" or, in each case, their negative or other variations 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. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies. 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 press release. Readers are cautioned not to place undue reliance on such forward-looking statements.