Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) is advising Deliveroo plc on its proposed return of up to £250 million to shareholders by way of a tender offer. On 10 August 2023, Deliveroo announced its intention to return £250 million to shareholders (in addition to the £50 million return announced in March 2023), bringing the total capital return to shareholders announced in 2023 to £300 million, equivalent to approximately 30 per cent of net cash at the start of 2023. The return of value represents the structural surplus of cash in the business following Deliveroo’s review of its capital structure, growth opportunities and required cash balances, both now and in the future.  The tender offer is conditional on the approval of shareholders. The Freshfields team is being led by partner Ziyad Nassif and senior associate Katie Stenstrom together with partner Paul Davison on tax matters, partner Alice Greenwell and counsel Lauren Evans on employment and benefits matters, and counsel Ethan Magid on US securities laws matters. Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. Deliveroo works with approximately 182,000 best-loved restaurants and grocery partners, as well as around 135,000 riders to provide the best food delivery experience in the world. Deliveroo is headquartered in London, with offices around the globe. Deliveroo operates across 10 markets, including Belgium, France, Hong Kong, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab Emirates and the United Kingdom.