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Rocket Internet buys 30% stake in takeaway rival Delivery Hero

Friday, February 6, 2015 - 15:04

[FRANKFURT] E-commerce investor and operating company Rocket Internet AG said on Friday it had paid 496 million euros to acquire a 30 per cent stake in Delivery Hero, a food takeaway rival of Rocket's own Foodpanda delivery service.

Rocket said the transaction consists of both primary and secondary shares of Delivery Hero. In early December, Delivery Hero and Foodpanda agreed a series of asset swaps to consolidate their respective positions in various national markets.

Both Rocket and Delivery Hero are based in Berlin. Delivery Hero counts more than 90,000 restaurants in its online takeaway delivery service worldwide, spread across Northern and Eastern Europe as well as Latin America and South Korea.

REUTERS

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