Yazılar

Prosus Secures EU Antitrust Approval for Just Eat Takeaway Bid

/in /tarafından

Dutch tech investor Prosus has received conditional approval from the European Union for its €4.1 billion ($4.76 billion) acquisition of Just Eat Takeaway, after agreeing to reduce its significant stake in rival Delivery Hero.

The European Commission confirmed that Naspers, Prosus’ majority owner, will lower its 27.4% holding in Delivery Hero to below a minimal threshold within 12 months. Naspers also committed not to exercise voting rights, increase its stake, or influence the management and supervisory boards of Delivery Hero.

Prosus announced the takeover plan in February, aiming to leverage its artificial intelligence expertise to strengthen Just Eat Takeaway, Europe’s largest meal delivery platform. With the EU clearance, this marks the final regulatory approval required for the deal, which is set to close by October 1, provided all offer conditions are met.

Prosus CEO Fabricio Bloisi described the acquisition as a step toward building a “true European tech champion” in the food delivery sector. EU antitrust chief Teresa Ribera emphasized that the ruling safeguards competition and consumer choice, warning that the Commission will continue to take a hard line against anti-competitive practices.

The approval comes months after Delivery Hero and its subsidiary Glovo were fined €329 million for cartel activities, including market division and non-poaching agreements. Once completed, the deal will make Prosus the fourth-largest global food delivery company, behind Meituan, DoorDash, and Uber, according to ING analysts.

Indonesia’s Sovereign Wealth Fund Explores Stake in Grab-GoTo Merger

/in /tarafından

Indonesia’s newly established sovereign wealth fund, Danantara Indonesia, is reportedly in early discussions to acquire a minority stake in the potential combined entity formed by ride-hailing and food delivery rivals Grab and GoTo. According to a Bloomberg News report on Friday, the move aims to alleviate concerns within the Indonesian government over Singapore-headquartered Grab’s ownership of the country’s largest tech company.

The deal, which is still in the negotiation phase, could see Grab valuing GoTo at approximately $7 billion. Grab is targeting a deal closure within the second quarter, though recent progress has slowed amid regulatory reviews by Indonesia’s antitrust authority. The regulator began studying potential risks associated with the merger last month to ensure fair competition and address any national security concerns.

Danantara Indonesia, launched in February, serves as Indonesia’s sovereign wealth vehicle and is designed to invest in strategic sectors including metal processing and artificial intelligence. The fund consolidates government stakes in various state-owned enterprises and is modeled after Singapore’s Temasek Holdings, aiming to foster national economic growth and technological advancement.

Neither Grab, GoTo, nor Danantara Indonesia have commented on the talks, but sources close to the matter indicate the discussions continue as stakeholders work through regulatory hurdles.

If completed, the transaction would mark a significant consolidation in Southeast Asia’s tech landscape, potentially strengthening Indonesia’s influence in the regional digital economy while balancing foreign ownership concerns.

Grab Eyes $7 Billion Acquisition of GoTo in Q2, But Regulatory Hurdles Loom

/in /tarafından

Grab Holdings (GRAB.O) is reportedly working to finalize a deal to acquire Indonesian tech giant GoTo (GOTO.JK) in the second quarter of 2025, in what would be a transformative merger in Southeast Asia’s digital economy, multiple sources told Reuters. If completed, the deal could value GoTo at around $7 billion, making it one of the largest consolidations in the region’s ride-hailing and delivery sectors.

Singapore-based Grab has hired advisers and is currently in discussions with banks to finalize financing. Meanwhile, GoTo has acknowledged awareness of potential proposals but stated no decisions have been made.

Under the current proposal:

  • GoTo would divest its international business entirely

  • In Indonesia, GoTo would sell all operations except its finance arm to Grab

Grab—backed by Uber—offers services in ride-hailing, food delivery, and fintech, while GoTo, which counts SoftBank and Taobao China Holding as investors, is Indonesia’s largest digital ecosystem spanning e-commerce, logistics, and digital banking.

Market Dominance and Regulatory Concerns

A merger would give Grab control of 85% of Southeast Asia’s $8 billion ride-hailing market, including a 91% market share in Indonesia and nearly 90% in Singapore, according to Euromonitor International.

“Markets, especially in Indonesia and Singapore, will impose strict scrutiny,”
said David Zhang, Euromonitor’s insights manager in Asia.

Talks between the two companies have been on and off for years, largely due to competition concerns. Analysts warn that regulators may see such a consolidation as anti-competitive—especially amid broader antitrust crackdowns and rising consumer costs driven by macroeconomic volatility and global tariffs.

However, some voices argue a merger could be beneficial.

“Indonesian authorities may adopt a more pragmatic approach,” said Niko Margaronis of BRI Danareksa Sekuritas, noting potential long-term value creation and operational strengthening.

The antitrust backdrop is tense: in March, Uber’s $950 million bid for Delivery Hero’s Foodpanda in Taiwan was blocked, over concerns that it could stifle competition and lead to price hikes.

While the Grab-GoTo deal is still under negotiation and not finalized, its outcome could reshape Southeast Asia’s digital landscape, with implications for consumers, competitors, and regulators alike.