Payment of contingent consideration in relation to the 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”, 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. 

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