Prosus has received conditional approval from the European Commission for its €4.1 billion acquisition of Just Eat Takeaway.

The EU approval was the last regulatory clearance needed to complete the transaction, allowing Prosus to pursue its vision of transforming Europe’s largest food delivery company with AI, the firm said on Monday.

The global consumer internet group said it has been working “constructively” with the European Commission during the past few months to obtain regulatory clearance.

In June, EU antitrust authorities expressed concerns about competition in the food delivery market, as Prosus currently holds a 27.4 per cent stake in Delivery Hero, a direct competitor of Just Eat in several EU countries, including Austria, Italy, Poland and Spain.

The European Commission raised concerns that the deal could reduce consumer choice and competition in the market.

To address these concerns, Prosus has confirmed its agreement to significantly reduce its stake in Delivery Hero to a single-digit percentage within 12 months of the European Commission's approval.

Additionally, Prosus said it will not recommend or appoint any person connected with Prosus to the boards of directors or supervisory boards of Delivery Hero, or to any other governing bodies.

Fabricio Bloisi, chief executive of Prosus, said the deal represents a “bold investment in the future of AI in Europe”, adding that it reinforces the company's commitment to the continent as AI rapidly transforms the food delivery industry.

The company emphasised its view that the technology will revolutionise the consumer experience, with the firm aiming to extend AI solutions to all Just Eat’s European activities to boost day-to-day operations.

“Our ambition is clear: to build a true European tech champion and lead the next chapter in food delivery innovation,” Bloisi said.

Operating in over 100 countries, Prosus is a global consumer internet group based in Amsterdam, the Netherlands.

It was founded in 2019 as a spin-off from South African multinational Naspers, which remains its majority shareholder.

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