16 Jul 2026
Prosus gives irrevocable undertaking to sell residual stake in delivery hero to uber
Naspers Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/001431/06)
JSE share code: NPN ISIN: ZAE000351946
(Naspers or the Company)
PROSUS GIVES IRREVOCABLE UNDERTAKING TO SELL RESIDUAL STAKE IN DELIVERY HERO TO UBER
Naspers, via its majority-owned subsidiary Prosus N.V. (“Prosus”), announces that it has provided an irrevocable undertaking to Uber Technologies, Inc. (“Uber”) to sell all of its remaining 16.8% stake in Delivery Hero SE (“Delivery Hero”) to Uber upon completion of Uber’s recently announced offer to acquire the share capital in Delivery Hero at a purchase price of €41.50 per ordinary share (the “Offer”). Uber is headquartered in San Francisco, California, United States, and its issued shares are admitted to listing and trading on the New York Stock Exchange (NYSE: UBER), with secondary listings in several stock exchanges across Europe and the Americas.
Under the terms of the European Commission’s approval of the acquisition by Prosus of Just Eat Takeaway.com, Prosus committed to significantly reduce its 26.5% shareholding in Delivery Hero. In compliance with those commitments, on 17 April 2026 Prosus announced the disposal of 13,582,342 ordinary shares it held in Delivery Hero SE to Uber, representing approximately 4.5% of Delivery Hero's issued share capital; and on 11 May 2026, Prosus announced a further disposal of 15,188,284 ordinary shares in Delivery Hero to Aspex Management representing approximately 5% of Delivery Hero's issued share capital.
Prosus now holds a minority stake of 16.8% in Delivery Hero, and Uber holds a stake of 24.99% with a further 11.8% held via instruments. Uber’s Offer represents a significant premium of 151% to Delivery Hero’s 1-month VWAP before the announcement of Prosus’s initial 4.5% stake sale to Uber. Prosus believes that Uber’s offer represents a fair price and effective way to comply with its commitments to the European Commission. Therefore, to support the offer, Prosus has entered into an irrevocable undertaking to Uber to dispose of its remaining interest in Delivery Hero. Prosus intends to use the proceeds of the disposal for general corporate purposes.
The Offer will be subject to, amongst other things, customary regulatory conditions and the Offer then becoming unconditional and proceeding to implementation in accordance with its terms. As such there is no certainty that the Offer will be implemented. The details of the Offer, including the outstanding conditions, are available on Uber’s website: www.uber.com. The Offer will become effective when all of the conditions thereto are fulfilled or waived, as applicable.
Information relating to Delivery Hero, its business, its net assets, and its profits or losses as at 31 December 2025 can be accessed through the following weblink:https://ir.deliveryhero.com/financial-reports-and-presentations.
The transaction constitutes a category 2 transaction for Naspers under the JSE Listings Requirements.
Cape Town, South Africa
16 July 2026
JSE sponsor to Naspers
Investec Bank Limited
Enquiries
| Investor Enquiries Eoin Ryan, Head of Investor Relations |
+1 347-210-4305 |
|
Media Enquiries |
+31 6 15494359 |
About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies. These include Takealot, Mr D Food, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa and a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the US.
For more information, please visit www.naspers.com.
Naspers Labs
In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa’s unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.
Disclaimer
The Repurchase Programme is being conducted in accordance with Articles 5(1) and 5(3) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (“Market Abuse Regulation”) and Articles 2 to 4 of Commission Delegated Regulation (EU) 2016/1052 supplementing the Market Abuse Regulation with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures (the “Delegated Regulation”). This document is issued in connection with the disclosure and reporting obligation set out in Article 2(1) of the Delegated Regulation.
This document contains information that qualifies as inside information within the meaning of Article 7(1) of the Market Abuse Regulation.
This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction.
The information contained in this announcement may contain forward-looking statements, estimates and projections. Forward-looking statements involve all matters that are not historical and may be identified by the words “anticipate”, ”believe”, ”estimate”, ”expect”, ”intend”, ”may”, ”should”, ”will”, ”would” and similar expressions or their negatives, but the absence of these words does not necessarily mean that a statement is not forward-looking. These statements reflect Prosus’s intentions, beliefs or current expectations, involve elements of subjective judgement and analysis and are based upon the best judgement of Prosus as of the date of this announcement, but could prove to be wrong. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties. Therefore, you should not rely on these forward-looking statements as a prediction of actual results.
Any forward-looking statements are made only as of the date of this announcement and neither Prosus nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this announcement or to update or keep current any of the information contained herein, any changes in assumptions or changes in factors affecting these statements and this announcement is not a representation by Prosus or any other person that they will do so, except to the extent required by law.