Edition:
United Kingdom

Info Edge (India) Says Zomato To Sell UAE Food Delivery Business To Delivery Hero For $172 Mln


Monday, 4 Mar 2019 

March 4 (Reuters) - INFO EDGE (INDIA) LTD : :ZOMATO ENTERED AGREEMENT TO SELL ITS UAE FOOD DELIVERY BUSINESS TO DELIVERY HERO FOR ABOUT $172 MILLION.ZOMATO AND DH WILL THEN ENTER SERVICES AGREEMENTS UNDER WHICH ZOMATO WILL CONTINUE TO RUN THE BUSINESS ON ITS OWN PLATFORM.ZOMATO HAS CONCLUDED ITS ONGOING FUNDING ROUND WITH ADDITIONAL SECOND TRANCHE OF ABOUT $105 MILLION.NEW INVESTORS IN ZOMATO'S FUNDING ROUND INCLUDE DELIVERY HERO AND GLADE BROOK CAPITAL.CO'S SHAREHOLDING IN ZOMATO WILL BE 26.38 PERCENT ON FULLY CONVERTED & DILUTED BASIS.