UK's Just Eat Agrees to Merge with Bulgaria, Romania-active Takeaway

UK's Just Eat Agrees to Merge with Bulgaria, Romania-active Takeaway

UK food delivery firm Just Eat said on Monday that it has agreed in principle the key terms of a possible merger with Dutch peer Takeaway.com, which is active in Bulgaria and Romania.The agreement envisages an exchange ratio of 0.09744 Takeaway.com shares for one Just Eat share, which will leave investors in Just Eat with a 52.2% stake in the combined group, Just Eat said in a filing to the London Stock Exchange.The new group will be headquartered in Amsterdam and listed on the London Stock Exchange.The merger will create one of the world's largest online food delivery platforms with 360 million orders worth 7.3 billion euro ($8.1 million) in 2018.Takeaway.com acquired Bulgaria's BGmenu and Romania's Oliviera for a total of 10.5 million euro in 2018.

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