Prosus Sells 5% Delivery Hero Stake to Aspex at 22% Premium
Prosus NV sold a 5% stake in Delivery Hero SE to Aspex Management at €22 per share, representing a 22% premium to the 30-day volume-weighted average price. The deal follows a 4.5% stake sale in Uber last month at a lower price.
Key Numbers
Prosus NV (PROSY) has sold an additional 5% stake in Delivery Hero SE (DELHY) to Aspex Management for approximately €335 million. The transaction price of €22 per share represents a 22% premium to Delivery Hero's 30-day volume-weighted average price.
Deal Details
| Item | Value |
|---|---|
| Stake sold | 5% |
| Price per share | €22 |
| Total value | €335 million |
| Premium | 22% above 30-day VWAP |
The deal comes just a month after Prosus sold a 4.5% stake in Uber Technologies (NYSE:UBER) at a price roughly 10% lower than the current Delivery Hero transaction.
Rationale
Prosus is reducing its exposure to Delivery Hero amid growing shareholder pressure to improve returns. The premium paid by Aspex indicates confidence in Delivery Hero's asset-sale strategy.
Regulatory Challenges
No major regulatory hurdles have been mentioned, though the deal may require antitrust approvals in certain markets.
Impact on Stocks
The transaction is likely to sharpen investor focus on Delivery Hero's asset-sale plans. The entry of Aspex as a significant shareholder could influence strategic decisions. Meanwhile, Prosus's continued divestments suggest a shift in its investment priorities.
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