Delivery Hero Shares Jump After Prosus Agrees to Sell Stake for $395 Million

By Najat Kantouar

Shares in Delivery Hero climbed after Prosus agreed to sell part of its stake in the company to Aspex Management for around 335 million euros ($394.9 million), marking the latest step in reducing its shareholding in the German delivery company.

The move comes weeks after it sold around 4.5% of its stake in Delivery Hero to U.S. tech company Uber, as part of remedies tied to its acquisition of Just Eat Takeaway.

In August, the European Commission approved Prosus's acquisition of Just Eat Takeaway.com, subject to commitments requiring the investor to significantly reduce its shareholding in Delivery Hero.

In early afternoon European trading, shares were up 10.2% at 22.02 euros. Year to date, shares have fallen 3.1%.

Hong Kong based investment firm Aspex Management is Delivery Hero's second-largest shareholder, holding a 9.23% stake as of Dec. 30, the German company said. Prosus remains the largest shareholder with a 21.83% stake as of April 21, after its stake sale to Uber, it said.

The deal follows Aspex's criticism of Delivery Hero's management in March, when the investor advocated for a change in the management team to address the company's challenges. Aspex previously raised concerns about the company's strategy of expansion into dozens of markets and noted its struggle to boost profitability and generate cash flow.

In response, Delivery Hero said it continues to work diligently to improve profitability and further strengthen operational performance.

Prosus, an Amsterdam-listed technology investor, said Monday that it has agreed to sell around 15.2 million ordinary shares in Delivery Hero to Aspex, representing roughly 5% of Delivery Hero's issued share capital.

The agreed price of 22 euros a share is a roughly 10% premium to Delivery Hero's closing share price and an around 22% premium to the stock's 30-day volume-weighted average price as of Friday, it said.

Delivery Hero declined to comment on Monday's announcement, while Aspex didn't immediately respond to a request for comment .

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

May 11, 2026 07:27 ET (11:27 GMT)