Steef89 schreef op 8 maart 2023 13:16:
[...]
The impairment losses come as JET is struggling to find a buyer for Grubhub, which it bought in June 2020 as part of a push into the US amid a lockdown-driven food delivery boom.
JET bowed to pressure from activist investors to explore a sale in April 2022, after the Amsterdam-listed business’ valuation fell below the total it paid for Grubhub. The entire group is now valued at €4.2bn.
“We have been very close to a sale and the problem was the changing financial environment at the beginning of last year,” chief executive Jitse Groen told the Financial Times.“If you’re in a process with a buyer and the buyer loses the financial strength to be able to complete the transaction, then you’re kind of stuck,” he added.
Groen said that buyers were waiting for fee caps on delivery companies to be lifted in US cities including New York, San Francisco and Seattle to ascertain the future profitability of the company.These were imposed during the pandemic to limit the amount companies could charge restaurants for deliveries, hitting companies like Grubhub, UberEats and DoorDash.
“There’s very little M&A and there’s uncertainty about the future profitability of Grubhub because of fee caps. If they are lifted, there’s a new situation to look at,” he added.
www.ft.com/content/bdba16f1-f7a0-4ea4...