Delivery Hero completes sale of its food delivery operations in Germany to Takeaway.com
The total consideration Delivery Hero has received amounts to (i) c. 5.7 million ordinary shares in Takeaway.com, (ii) c. 3.8 million warrants convertible into ordinary shares of Takeaway.com at zero cost and (iii) c. EUR508 million of cash. The total consideration consisting of EUR930 million (subject to customary price adjustments) at time of signing of the transaction, as referred in the transaction announcement on December 21, 2018, amounts to EUR1.15 billion at market values as of 29 March 2019. The total consideration is net of cash, i.e. Delivery Hero keeps the net cash position of its German food delivery operations. Post exercise of the warrants, the share component represents c. 15.5% of the total issued and outstanding share capital of Takeaway.com.
As a result of the transaction, the mandate of Semih Yalcin, employee representative in Delivery Hero's supervisory board will end. His successor will be Christian Graf von Hardenberg, Chief Technology Officer of Delivery Hero. (dpa)
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