JOHANNESBURG - South African tech investor Prosus is set to cash in on its remaining stake in German food delivery group Delivery Hero.
The company has agreed to sell its holding to Uber in a deal worth about R39 billion.
Prosus, which is majority-owned by Naspers, says the transaction aligns with commitments made to European regulators following its acquisition of Just Eat Takeaway.com.
Uber is offering 41 euros and 50 cents a share for Delivery Hero, valuing the company at around R236 billion.
Prosus says it intends to use the proceeds for general corporate purposes.
The company has been steadily reducing its stake in Delivery Hero, having sold portions of its holding earlier this year.