The new company will compete with Uber’s takeaway business and seek to become the world’s largest food and beverage takeaway company outside the Chinese market.
Editor’s note: This article is from “Tencent Technology”, reviewing the curriculum . Authorized to reprint.
On Monday, the European Dutch-based Takeaway.com and British rival Just Eat have finalized the terms of the final merger deal, which will create a global food and beverage takeaway company. The new company will compete with Uber’s takeaway business and seek to become the world’s largest food and beverage takeaway company outside the Chinese market.
In the era of mobile Internet, catering and take-out has become an emerging high-growth business. There is also an increasing number of mergers and acquisitions in this area. The industry hopes to expand the global expansion of Uber take-out business through mergers and acquisitions.
According to the latest news from foreign media, Monday, the take-away site Takeaway.com, based in Amsterdam, the Netherlands, and the British rival Just Eat have finalized the terms of the final merger transaction, which will create a global food and beverage takeaway company.
The new company will compete with Uber’s takeaway business and seek to become the world’s largest food and beverage takeaway company outside the Chinese market.
According to foreign media reports, the new company called Just Eat Takeaway will become the leader in the food and beverage market in the UK, Germany, the Netherlands and Canada.
The two companies said on Monday that they support the trading plan proposed on July 29, and that Just Eat’s shareholders receive 0.09744 new shares of Takeaway.
The value of these convertible merger terms is about 4.7 billion pounds ($5.7 billion) based on the price of Takeaway at the close of the stock market on Friday.
Since last week’s trading announcement, the Takeaway website’s share price has fallen by around 8%, and the trading price on Monday morning was 76.70 euros.
“The board believes that this is a compelling bid for Just Eat shareholders to create a global leader in a dynamic and fast-growing industry,” said Mike, chairman of the UK-based takeaway company. Mike Evans said.
In an interview with reporters, he said: “As ordering is gradually becoming a daily consumption activity, we will work together to address the huge opportunities in the food and beverage market.”
With the global competitors such as Deliveroo and Uber takeaways supported by e-commerce giant Amazon, competing to provide consumers with the biggest choice, the scale of business is crucial in this fast-growing $100 billion market.
Jitse Groen, who will serve as CEO of the new company, said: “This global market is fiercely competitive and there are many new companies joining. By merging the two companies, we can both Profits are concentrated and capital is effectively distributed to markets in 23 countries and regions.”
The two companies said their merger is expected to save 20 million euros ($22.2 million) in costs four years later, about half of which is expected to be completed in the first year.
The transaction will be completed by the end of 2019, after which Just Eat Takeaway will be listed in London, and in the future, Takeaway will stop trading on the Amsterdam stock market in the Netherlands.
It is worth mentioning that Uber, the world’s largest network car company, is expanding in the food and beverage market, and the take-out has become a “black horse business” of Uber, which has achieved super-fast growth. Uber executives said that the take-away business and the network car business are complementing each other. Some of the take-away customers have become the old customers of the network car, and the company is also able to promote the food and beverage delivery service to the old customers.