Prosus (EURONEXT:PRX), the technology investor majority-owned by South African conglomerate Naspers (JSE:NPN), has sold a 4.5% stake in German food delivery group Delivery Hero (ETR:DHER) for €270mn ($318mn) to Uber (NYSE:UBER), as it complies with European regulatory requirements.

Prosus initially acquired shares in Delivery Hero in 2018 and subsequently built a controlling position, making the Berlin-based group a central part of its global food delivery portfolio. Following the transaction, Prosus retains a 21.8% stake in Delivery Hero and has indicated it will continue reducing its holding within a defined timeframe to meet regulatory obligations.

The latest disposal follows conditions imposed by the European Commission after Prosus’ €4.1bn ($4.43bn) acquisition of Just Eat Takeaway.com (AMS:TKWY) in February 2025, aimed at limiting its influence across Europe’s food delivery market.

“What is really happening? This is less about Delivery Hero and more about consolidation pressure in food delivery,” writes TechCabal. “Prosus, owned by South African conglomerate Naspers, now sits across iFood in Latin America, Swiggy in India, Meituan in China, and Just Eat in Europe. Regulators are watching closely and forcing it to loosen its grip where overlap or influence becomes too strong.”

Prosus maintains a broad global portfolio of food delivery assets, including iFood in Latin America, Swiggy in India and Meituan in China, reflecting its strategy of building exposure across high-growth digital platforms.

Uber’s acquisition of the 4.5% stake provides the US-based ride-hailing and food delivery company with a strategic foothold in markets where it operates through Uber Eats but does not hold dominant positions, complementing its global expansion strategy.

The deal highlights intensifying consolidation pressures in the global food delivery sector, where cross-shareholdings and regulatory scrutiny are increasingly shaping competitive dynamics.

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