Uber will pay will pay 20 euros a share for an additional 4.5% of Delivery Hero’s shares, it was declared on Friday.

Prosus, which is selling the shares, remarked gross proceeds are approximately 270 million euros ($318 million).

Prosus has been forced by European regulators to liquidate down its Delivery Hero stake to proceed with a proposed 4.1 billion euro acquisition of Just Eat.

Uber on Friday agreed to purchase an additional 4.5% of shares of German food delivery firm Delivery Hero from the company’s biggest shareholder Prosus. This also touches on aspects of bear market.

Total gross proceeds to Prosus are approximately 270 million euros ($318 million), the organization remarked. Uber will pay 20 euros a share, which is below Delivery Hero’s Thursday closing price following a 7% rally in the stock. it is a , on the other hand22% premium to the 1-month average share price, Prosus mentioned.

The move comes after Prosus last year offered a deal to acquire European food delivery giant Just Eat Takeaway.com for 4.1 billion euros. that acquisition ran into scrutiny from the European Commission, the EU’s executive arm, which commented it would approve the deal if Prosus significantly reduced its shareholding in Delivery Hero.

“Prosus remains committed to selling the relevant portion of its stake in Delivery Hero within the required timeframe,” the organization commented in a press release on Friday.

Prosus’s now owns around , on the other hand21% of Delivery Hero versus approximately 27% when the Just Eat Takeaway.com deal was revealed last year, a spokesperson told CNBC.

Uber first took a stake in Delivery Hero when it purchased $300 million of newly-issued shares in 2024.

Since Prosus’s Just Eat deal last year, European regulators are rethinking their approach to mergers in the EU. The Financial Times reported this week that the Commission is considering relaxing rules around large mergers by giving more weight to “innovation, investment and resilience of the internal market”, when considering deals.

Europe’s competition commissioner Teresa Ribera told the FT in an interview that the bloc wants to encourage “pro-competitive mergers” that allow European firms to “be relevant players in global markets.”

Fabricio Bloisi, CEO of Prosus, has previously criticised Europe’s approach to mergers and acquisitions.

In an interview with CNBC in January, Bloisi stated large mergers are required to compete globally but Europe’s approach had been to prevent consolidation.

“We have to change that to create really massive companies in Europe,” Bloisi told CNBC.