Just Eat Takeaway rallies with Grubhub on the sales block

Apr. 20, 2022 7:17 AM ETJust Eat Takeaway.com N.V. (JTKWY), TKAYFBy: Clark Schultz, SA News Editor2 Comments

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Just Eat Takeaway.com N.V. (OTC:JTKWY) disclosed that it is considering a sale of Grubhub as it looks to align with shareholders in realizing value from its portfolio of assets.

The company said it is actively working with advisers to find a strategic partner for a partial or full sale of Grubhub. "There can be no certainty that any such strategic actions will be agreed or what the timing of such agreements will be," updated the food delivery giant.

Just Eat Takeaway.com completed its $7.3B acquisition of Grubhub on June 15, 2021.

Looking ahead, Just Eat Takeaway CEO Jitse Groen said the company's priority for this year is enhancing profitability and strengthening the business.

Shares of Just Eat Takeaway.com (JTKWY) jumped 7.66% in trading in the Netherlands on Wednesday and showed a 3.45% gain in premarket action in the U.S. after the Grubhub sale plan was announced. The stock is down more than 60% from when Grubhub was absorbed.

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