Prosus may sell 10% of Delivery Hero to Aspex, says Bloomberg

• Preliminary discussions have already taken place between Prosus and Aspex regarding the potential stake sale
• The transaction would reduce Prosus's ownership in Delivery Hero from approximately 26.8% to around 16.8%
• Earlier this week, Aspex urged Delivery Hero's supervisory board to remove the CEO and top management team, signaling an activist push for strategic changes

Summary

Key Development:

Dutch technology investor Prosus is considering selling approximately 10% of its stake in German food delivery company Delivery Hero to Aspex Management, according to Bloomberg. Preliminary discussions have already occurred between the parties.

Current Ownership Structure:

• Prosus currently holds roughly 26.8% of Frankfurt-listed Delivery Hero, making it the largest shareholder
• Aspex is currently the second-largest shareholder in Delivery Hero
• The potential transaction would involve transferring a 10% stake

Companies Involved:

All three companies—Prosus, Delivery Hero, and Aspex—declined to comment on the reports when contacted by Reuters.

Market Context:

The potential stake sale comes amid heightened tensions at Delivery Hero. Earlier in the same week, Aspex publicly urged Delivery Hero's supervisory board to remove the CEO and entire top management team, signaling an aggressive push for strategic changes at the food delivery company.

Implications:

This development suggests potential corporate governance conflicts and strategic disagreements within Delivery Hero's shareholder base. If completed, the transaction would consolidate more influence with Aspex, the activist investor already pushing for leadership changes. The sale could represent Prosus reducing exposure to the food delivery sector or stepping back from potential governance battles. For Delivery Hero, increased ownership concentration with an activist shareholder demanding management changes could signal significant operational or strategic shifts ahead.

The timing of the potential sale—coinciding with Aspex's public campaign against current leadership—suggests possible alignment or negotiation between major shareholders regarding the company's future direction.