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Oakley advises Just Eat on its £11bn merger with Takeaway.com
February 4th, 2020
Company Name
Just Eat Takeaway.com
Company Sector
Online
Deal Size
£11bn
Location
UK

Oakley Advisory, one of Europe’s leading independent corporate finance firms offering specialist advice across the TMT and Online sectors, has acted as joint lead advisor to Just Eat plc on its recommended £11bn merger with Takeaway.com NV.

Just Eat is a global leading online marketplace for food delivery, with operations in Europe, Canada, LatAm, and Australia. Takeaway is a leading European focused online food delivery marketplace with operations in ten European countries and Israel. Takeaway was established in 2000 by founder and current CEO Jitse Groen.

Oakley acted as joint lead financial advisor to Just Eat. The team included Christian Maher, Managing Partner, Marc Jones, Director, Max Gilbert, Assistant Director, and Alessandro Gelfi, Analyst. Oakley provided financial and strategic advice to the Board of Just Eat throughout the process, including advice on the terms of the offer and defence work on the competing bid from Prosus. Oakley previously worked on Just Eat’s 2014 IPO on the London Stock Exchange, its 2016 acquisition of SkipTheDishes in Canada and its 2019 acquisition of Flyt in the UK.

Christian Maher, Managing Partner at Oakley, commented:

“We are delighted to act as joint lead advisor on this transaction. Oakley has advised Just Eat from before its IPO in 2014, acting on a number of its successful acquisitions during this time whilst also being retained for ongoing equity capital markets advice. The combination with Takeaway presents a truly exciting development for the business, its combined leadership team and its shareholders, creating the second largest online food delivery company in the world by Gross Meal Value.

“The transaction is the 5th public markets transaction on which Oakley has advised in the past 12 months.” 

The merger of Just Eat and Takeaway is subject to an investigation by the Competition and Markets Authority (the “CMA”). The CMA has imposed a hold separate order requiring the Just Eat and Takeaway businesses to continue to be run independently until the CMA’s investigation  is completed or the order is lifted or amended.

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