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Rocket Internet has announced that it is selling its online food takeaway companies in Brazil, Mexico, Spain and Italy.
It is selling the companies to competitor Just Eat for 140 million US dollars, which is widely speculated to be a loss.
Just Eat is experiencing huge growth at the moment, with the company reporting a 54% increase in global revenues during a 6 month period last year.
The CEO of Rocket Internet commented on the sale of the companies to Just Eat, saying: “Today’s transactions are clearly aimed at reducing the complexity of Rocket Internet’s network of companies.”