Just Eat Takeaway.com has announced its decision to withdraw its listing from the London Stock Exchange, a move driven by considerations over cost and regulatory demands.
The company, born from a merger between London-headquartered Just Eat and Amsterdam-listed Takeaway.com in 2020, is poised to focus its efforts on its primary listing with Euronext Amsterdam. This decision comes after the company’s previous delisting from the United States in 2022. Despite initial plans to abandon its Dutch listing, the firm has shifted its strategy to focus on further enhancing efficiencies.
A spokesperson for Just Eat Takeaway.com commented, ‘As we deliver our strategy to accelerate growth, we have been looking at enhancing efficiencies and made the decision to delist from our secondary listing venue on the London Stock Exchange.’ The spokesperson also underscored the company’s continued commitment to the UK market, highlighting the vast network that now covers 97% of the UK population and its dedication to investing in the region.
The move to delist follows Just Eat’s recent sale of its US business, Grubhub, to the start-up Wonder for approximately $650 million (£502.5 million). This marked a notable reduction from the $7.3 billion (£5.73 billion) that Just Eat paid for Grubhub four years prior. The transaction underscores the company’s strategic refocus amid post-pandemic shifts in the rapid delivery sector.
Just Eat’s decision to delist from London points to a broader strategy to streamline operations and prioritise key markets, reflecting ongoing adaptations in the fast-evolving delivery service industry.
