Investments

Delivery Hero acquires majority stake of Glovo.

Tuesday, January 4, 2022
Delivery Hero acquires majority stake of Glovo.

German food delivery group Delivery Hero signed an agreement to obtain a 39.4% stake in the Spanish delivery app Glovo. The company currently holds about 43.8% of Glovo shares on a non-diluted basis. The transaction will value Glovo at €2.3 B on a fully diluted and debt-free basis before certain adjustments, the company said. Glovo will continue operations with their existing brand and platform under their current management, Reuters reported.

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