Takeaway CEO Groen: sales process for Grubhub 'difficult' given current M&A market

AMSTERDAM (Reuters) - Just Eat Takeaway CEO Jitse Groen on Wednesday said the company remains in talks to sell its U.S. Grubhub subsidiary, but the sales process is "difficult" given the current M&A market.

"We've been in the sales process for quite some time," Groen said on a call following a fourth-quarter trading update.

"Realistically it is a very difficult process currently because there's not a lot of M&A going on in the sector."

In the trading update, Just Eat said fourth-quarter orders fell 12% but the company sees an operating profit of 225 million euros ($244 million) for 2023.

($1 = 0.9234 euros)

(Reporting by Toby Sterling; editing by Jason Neely)