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(Sharecast News) - Dutch investment company Prosus has further cut its stake in Germany's Delivery Hero as part of the terms of last summer's acquisition of rival Just East.
Prosus offloaded 5% of Delivery Hero's issued share capital to Hong Kong investor Aspex Management, the company announced on Monday, raising proceeds of around 335m.
The sale of 15.19m shares was priced at 22.00, a 10% premium to Delivery Hero's closing price and a 22% premium to its 30-day average as of 8 May.
The transaction raises Aspex's stake to around 15%, while reducing Prosus's stake to 16.8%.
Prosus was tasked with significantly reducing its shareholding in Delivery Hero following the August purchase of Just East Takeaway.com, according to a European Commission ruling. The EC said its stake must fall to below 10% by the end of the summer.
"Following Prosus' sale of a 4.5% stake in Delivery Hero to Uber in April 2026, today's transaction represents a further step towards fulfilling those commitments," Prosus said.
Delivery Hero shares were up 7.7% at 21.52 by 0935 BST.
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