Rocket Internet sells Foodpanda to Delivery Hero
Germany-based start-up developer Rocket Internet has sold its entire stake in emerging markets-focused food delivery app Foodpanda to the company's main global competitor, Delivery Hero.
The deal will see Rocket exchange all of its shares in Foodpanda for newly issued Delivery Hero shares, raising its stake in Delivery Hero to 37.7% from the 30% it acquired for EUR496 million ($586 million)...
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