Just Eat Takeaway sells US arm GrubHub in cut-price deal
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Just Eat Takeaway.com NV has sold its US-based business, Grubhub, to Wonder Group Inc for $650 million, significantly less than the $7.3 billion it paid three years ago. The deal includes net cash proceeds of up to $50 million and the transfer of $500 million in Grubhub senior bonds.
November 13, 2024 | 8:15 am
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Grubhub has been sold by Just Eat Takeaway to Wonder Group for $650 million, a significant decrease from its $7.3 billion purchase price. The deal includes $50 million in cash and $500 million in bonds.
The sale of Grubhub at a significantly lower price than its purchase indicates a loss in value, which is likely to negatively impact its stock price in the short term. The transfer of $500 million in bonds also suggests financial restructuring.
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