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Just Eat Takeaway has taken a near €5bn writedown on the multibillion euro mergers that created Europe’s biggest food delivery group, revealing the cost of buying rivals at the top of the sector’s lockdown-driven boom. The online food delivery company on Wednesday reported a €5.7bn loss in its full-year earnings for 2022, up from €1bn a year ago, largely due to a €4.6bn impairment charge on past equity-funded acquisitions.
“We have been very close to a sale and the problem was the changing financial environment at the beginning of last year. 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."
https://www.ft.com/content/bdba16f1-f7a0-4ea4-89ef-b73fabaaf133
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