Just Eat Takeaway sells stake in Brazil’s iFood for up to $1.8B

European food ordering and delivery giant Just Eat Takeaway has revealed that it’s selling its stake in Brazil’s iFood for up to €1.8 billion ($1.8 billion) to Prosus.
The initial deal will amount to €1.5 billion in cash, plus another €300 million depending on the performance of iFood over the next 12 months.
News of the pending deal sent Just Eat Takeaway’s shares soaring 25% to more than €21 in early trading on the Dutch Euronext Amsterdam stock exchange.
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Founded in 2011, iFood operates mainly in Brazil and Colombia, and had raised nearly $600 million in fun

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