February 12, 2020 / 11:22 PM / 2 months ago

Delivery Hero to buy 8.4 million additional shares of Just Eat Takeaway.com

FILE PHOTO: The Delivery Hero headquarters is pictured in Berlin, Germany, June 2, 2017. The Berlin-based company Delivery Hero, one of Europe's largest internet start-ups. REUTERS/Fabrizio Bensch

(Reuters) - Germany-based food delivery group Delivery Hero SE (DHER.DE) said on Wednesday it will buy 8.4 million additional shares of Just Eat Takeaway.com (TKWY.AS) by entering into a forward share purchase agreement.

Food delivery giant Just Eat Takeaway.com was forged by Dutch online service Takeaway’s $7.8 billion (£6.01 billion) acquisition of British food deliverer Just Eat.

The forward share purchase will restore the German-based company’s exposure in Just Eat Takeaway.com to 10.6% after the dilution caused by the merger, Delivery Hero said.

Shares in Just Eat Takeaway.com began trading earlier this month and the Dutch firm must now wait for a final approval from the UK’s Competition and Markets Authority (CMA) before it will be able to merge operations and brands. The CMA’s first probe is due to end March 5.

Reporting by Kanishka Singh in Bengaluru; Editing by Shailesh Kuber

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