FoodPanda backer Rocket Internet will increase its stake in another food delivery platform, Delivery Hero, to almost 38% through the acquisition.
Online food ordering service Delivery Hero agreed on Saturday to acquire Germany-based rival FoodPanda for an undisclosed sum in a deal that provided an exit to e-commerce holding company Rocket Internet.
Rocket Internet, which owned a stake in Germany-based Delivery Hero through its Global Online Takeaway Group, will increase its share of the company to 37.7% as part of the deal.
The company had invested $586m in Delivery Hero as of March 2015, and Delivery Hero was valued at $3.1bn…
