In brief

The São Paulo court invalidated 99Food clauses that barred restaurants from working with Keeta.

The ruling was unanimous.

What we know

04

  1. Verified fact · material

    The São Paulo court invalidated 99Food exclusivity clauses that barred restaurants from working with Keeta.

    Frees restaurants to use multiple platforms.

    Sources[01][02][03]

  2. Verified fact · material

    The ruling was unanimous.

    Reduces the chance of reversal.

    Sources[01][02]

  3. Verified fact

    According to NeoFeed, the ruling is another round of the delivery war between 99Food, Keeta and iFood.

    Gives context on the dispute.

    Sources[03]

  4. Verified fact

    Keeta belongs to Chinese group Meituan.

    Identifies the company.

    Sources[01]

Transmission to assets

Market read-through

The end of exclusivity tends to intensify competition for restaurants and pressure commissions, with an indirect effect on iFood.

Portfolio impact

01
Aplicativos de deliverynegative

End of exclusivity increases competition for restaurants.

Companies not listed in Brazil.

What would change the view: Ruling upheld by higher courts.

sector20% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • 99Food appeal
  • Cade cases on delivery exclusivity
  • iFood reaction

Limits of the reporting

What remains uncertain

  • The court panel and exact scope of the ruling were not confirmed by two sources.

Full sources

03
01
Bloomberg LíneaJustiça de SP derruba cláusulas da 99Food que proibiam restaurantes de atuar na Keetaindependent newsroom
02
Correio BrazilienseTJSP decide que cláusulas em contratos de exclusividade da 99 são ilegaisindependent newsroom
03
NeoFeedO novo round da guerra do delivery: Keeta derruba na Justiça cláusula de banimento imposta pela 99Foodindependent newsroom