16.8% is the stake Prosus has agreed to sell in Delivery Hero, with an irrevocable commitment to tender at €41.50 per share if Uber’s takeover offer becomes unconditional. Prosus said the price is fair and that, should the deal complete, it will turn its entire residual holding into cash.
The new element is the hard commitment: Prosus had been trimming food-delivery exposure over time, but this undertaking effectively seals a full exit at a set price if the transaction is approved. The company flagged that the cash would be used for general corporate purposes, signalling a preference for balance-sheet flexibility rather than earmarking specific buybacks or acquisitions.
Strategically, the move would simplify Prosus’s portfolio and reduce volatility tied to food delivery while locking in liquidity at a known price point. The timing matters: converting a minority stake into cash amid active mergers and acquisitions in delivery could remove execution risk around future market sell-downs. Investors should also note that irrevocable undertakings typically stand unless the offer lapses or fails to meet conditions.
For South African investors in Naspers and Prosus on the Johannesburg Stock Exchange, a clean cash outcome could influence how the market values the group relative to its underlying assets. What to watch now: whether Uber’s offer turns unconditional, the regulatory and antitrust timetable in relevant jurisdictions, any rival proposals that could shift the price, and how euro proceeds translate into rand once received.
For more detail, read the full announcement.