Delivery Hero to Own Around 83% of Glovo After Buying Further 39.4% Stake
03 Januar 2022 - 08:39AM
Dow Jones News
By Olivia Bugault
Delivery Hero SE said late Friday that it agreed with some
shareholders of Glovo to purchase an additional 39.4% stake in the
Spanish quick-commerce company.
Delivery Hero already holds a roughly 44% stake in Glovo on a
nondiluted basis, and will own about 83.4% after completion of the
deal--which should happen in the second quarter of the
year--therefore becoming its majority shareholder, the German
online food-delivery service said.
Delivery Hero will issue its own shares in exchange for shares
in Glovo, it said.
Glovo's brand, platform and management team will remain after
closing of the deal, Delivery Hero said.
Founded in 2015, Glovo now operates in more than 1,300 cities
across 25 countries in Europe, Central Asia and Africa. It has a
run rate of roughly three billion euros ($3.41 billion) in gross
transaction value with an organic growth rate of 80% in 2021,
Delivery Hero said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
January 03, 2022 02:24 ET (07:24 GMT)
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