After years of swallowing new businesses, Grubhub’s owner has begun a painful but much-needed purge.
On Friday, Amsterdam-headquartered food-delivery company Just Eat Takeaway.com said it would exit its Latin American joint venture. Its existing partner, Prosus, will pay up to €1.8 billion for JET’s one-third stake in São Paulo-based iFood, equivalent to $1.81 billion. Venture capital investor Prosus, also listed in Amsterdam, is best known for its roughly 29% stake in Chinese technology giant Tencent but owns a lot of startups too.