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Home Technology

Allowance of JustEat and Takeaway.com – The Duo Raised $756M in New Funding

Nitya Jana by Nitya Jana
December 15, 2022
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JustEat and Takeaway.com

Today, the competition supervisor in the UK has given a salute to the merger officially. The salute was given between JustEat and Takeaway.com. Originally, the merger was valued at $0 billion, but currently, it is valued at more than £6.2 billion. Along with this, the merged company declared it had raised $756 million in new outside funding in the form of some fresh shares as well as convertible bonds.

Both Takeaway and JustEat had been trading on the Netherlands and London respectively on stock exchanges. They said that they would utilize the capital as well as the convertible bond issue to repay the debts, business development, and other corporate purposes and potential acquisitions.

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What to do with the money?

Particularly, the pair mentioned in their announcement that they would utilize the money to pay down the revolving credit facilities partially, which are currently utilized by JustEat and Takeaway.com for usual corporate purposes. Also, they would utilize the money to provide the company with proper financial adaptability to act on tricky chances that may appear.

The two companies also addressed that the substitution is dependent on them to get admitted to the trade successfully as a merged company. They have created the application for that, and they are hoping it to be effective on 27th April.

Meanwhile, the competition and market authority cited that the decision was prompted by the fact that Takeaway.com had been inactive in the UK market, and they were pleased that there were no competition concerns at all.

The moves cover a bitter nine months for two companies that declared their intention to combine last year to expand against the pricey competition from the Uber Eats, Deliveroo, and more. After the two declared their intentions to get together, Prosus made a hostile and protracted bid for JustEat, which was extremely unsuccessful.

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Nitya Jana

Nitya Jana

Nitya is associated with Ulaska for a long time as a full-time author and has a keen interest in sharing news related to entertainment.

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