The unprofitable food delivery sector has impacted Just Eat Takeaway. The Company has announced that it will divest its stockholding in a series of operations in Latin America to their joint venture partner, Prosus, for $1.9 billion.

The announcement follows a previous decision by Just Eat Takeaway to sell the GrubHub subsidiary that operates in the U.S. although there are no prospective bidders at present. The parent company has just taken a charge of $3 billion on GrubHub after acquisition of the Company in 2021.