S&C Advises Delivery Hero in the Sale of its German Food Delivery OperationsApril 10, 2019
Delivery Hero S.E., a leading global online food ordering and delivery marketplace, completed the sale of its German food delivery operations on April 1 for a total consideration of €930 million subject to customary price adjustments (approximately $1.15 billion). The deal includes the sale of Lieferheld, Pizza.de and its foodora businesses to Takeaway.com N.V. in exchange for an equity stake in Takeaway.com.
“This transaction enables us to strengthen our global footprint and increase our focus on our key growth regions while becoming a shareholder in Takeaway.com, enabling Delivery Hero to benefit further financially from any additional value that Takeaway.com may create,” said Niklas Östberg, CEO of Delivery Hero.
The S&C team was led by Carsten Berrar and Konstantin Technau, with Michael Rosenthal advising on antitrust matters.
S&C had previously advised Delivery Hero, most notably in the context of its $1.14 billion initial public offering.