Wrap Text
Prosus gives Irrevocable Undertaking to sell residual stake in Delivery Hero to Uber
NASPERS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000351946
(Naspers or the Company)
PROSUS GIVES IRREVOCABLE UNDERTAKING TO SELL RESIDUAL STAKE IN DELIVERY HERO TO UBER
Naspers, via its majority-owned subsidiary Prosus N.V. ("Prosus"), announces that it
has provided an irrevocable undertaking to Uber Technologies, Inc. ("Uber") to sell all
of its remaining 16.8% stake in Delivery Hero SE ("Delivery Hero") to Uber upon
completion of Uber's recently announced offer to acquire the share capital in Delivery
Hero at a purchase price of €41.50 per ordinary share (the "Offer"). Uber is
headquartered in San Francisco, California, United States, and its issued shares are
admitted to listing and trading on the New York Stock Exchange (NYSE: UBER), with
secondary listings in several stock exchanges across Europe and the Americas.
Under the terms of the European Commission's approval of the acquisition by Prosus of
Just Eat Takeaway.com, Prosus committed to significantly reduce its 26.5%
shareholding in Delivery Hero. In compliance with those commitments, on 17 April 2026
Prosus announced the disposal of 13,582,342 ordinary shares it held in Delivery Hero
SE to Uber, representing approximately 4.5% of Delivery Hero's issued share capital;
and on 11 May 2026, Prosus announced a further disposal of 15,188,284 ordinary shares
in Delivery Hero to Aspex Management representing approximately 5% of Delivery
Hero's issued share capital.
Prosus now holds a minority stake of 16.8% in Delivery Hero, and Uber holds a stake of
24.99% with a further 11.8% held via instruments. Uber's Offer represents a significant
premium of 151% to Delivery Hero's 1-month VWAP before the announcement of
Prosus's initial 4.5% stake sale to Uber. Prosus believes that Uber's offer represents a
fair price and effective way to comply with its commitments to the European
Commission. Therefore, to support the offer, Prosus has entered into an irrevocable
undertaking to Uber to dispose of its remaining interest in Delivery Hero. Prosus intends
to use the proceeds of the disposal for general corporate purposes.
The Offer will be subject to, amongst other things, customary regulatory conditions and
the Offer then becoming unconditional and proceeding to implementation in accordance
with its terms. As such there is no certainty that the Offer will be implemented. The
details of the Offer, including the outstanding conditions, are available on Uber's
website: www.uber.com. The Offer will become effective when all of the conditions
thereto are fulfilled or waived, as applicable.
Information relating to Delivery Hero, its business, its net assets, and its profits or losses
as at 31 December 2025 can be accessed through the following weblink:
https://ir.deliveryhero.com/financial-reports-and-presentations.
Upon implementation, the offer will be categorised in accordance with the JSE Listings
Requirements.
Cape Town, South Africa
16 July 2026
JSE sponsor to Naspers: Investec Bank Limited
Contact
Eoin Ryan Charlie Pemberton
Head of Investor Relations Group Communications Director
eoin.ryan@prosus.com charlie.pemberton@prosus.com
M: +31 615 494 359
About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one
of the largest technology investors in the world. Through Prosus, the group operates and invests globally in
markets with long-term growth potential, building leading consumer internet companies that empower people
and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on
the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building
its internet and ecommerce companies. These include Takealot, Mr D Food, Autotrader, Property24 and PayU,
in addition to Media24, South Africa's leading print and digital media business.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the
A2X Exchange (NPN.AJ) in South Africa and a level 1 American Depository Receipt (ADR) programme which
trades on an over-the-counter basis in the US.
For more information, please visit www.naspers.com.
Disclaimer
The information contained in this announcement has not been audited, reviewed, or reported on by the
Company's external auditors.
This announcement is for information purposes only and does not constitute an offer to sell or issue, or the
solicitation of an offer to buy or acquire, any securities of Prosus or Delivery Hero in any jurisdiction.
The distribution of this announcement may, in some countries, be restricted by law or regulation. Persons
who come into possession of this announcement should inform themselves of and observe any such
restrictions.
Any reference to a company's website URL (including Prosus, Naspers, Delivery Hero and Uber) or any other
website links within this announcement is provided for informational purposes only. The contents of the
Company's website, or any other company cited in this announcement, or any website accessible via
hyperlinks in this announcement, are not incorporated by reference into, and do not form part of, this
announcement. The Company accepts no responsibility or liability for the accuracy, completeness, or updating
of any information contained on such websites.
Forward-looking statements
The information contained in this announcement may contain forward-looking statements, estimates and
projections. Forward-looking statements involve all matters that are not historical and may be identified by
the words "anticipate", "believe", "estimate", "expect", "intend", "may", "should", "will", "would" and similar
expressions or their negatives, but the absence of these words does not necessarily mean that a statement
is not forward-looking. These statements reflect Prosus's intentions, beliefs or current expectations, involve
elements of subjective judgement and analysis and are based upon the best judgement of Prosus as of the
date of this announcement, but could prove to be wrong. These include statement statements in relation to
the Offer and whether it will proceed and/or be implemented.
These statements are subject to change without notice and are based on a number of assumptions and entail
known and unknown risks and uncertainties. Therefore, you should not rely on these forward-looking
statements as a prediction of actual results.
Any forward-looking statements are made only as of the date of this announcement and neither Prosus nor
any other person gives any undertaking, or is under any obligation, to update these forward-looking
statements for events or circumstances that occur subsequent to the date of this announcement or to update
or keep current any of the information contained herein, any changes in assumptions or changes in factors
affecting these statements and this announcement is not a representation by Prosus or any other person that
they will do so, except to the extent required by law.
Date: 16-07-2026 08:54:00
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