Delivery Hero to acquire Zomato's food delivery business in the UAE

DGAP-News | 04 Mar 2019

DGAP-News: Delivery Hero SE / Key word(s): Takeover

04.03.2019 / 12:32
The issuer is solely responsible for the content of this announcement.

Berlin, 4 March 2019 - Delivery Hero Group ("Delivery Hero"), one of the leading global online food ordering and delivery marketplaces, announced today that it entered into an agreement with Zomato Media Pvt. Ltd. ("Zomato") to buy its food delivery business in the United Arab Emirates (UAE) through Delivery Hero's fully owned subsidiary Talabat Middle East Internet Services Company LLC ("Talabat").

The acquisition will add c. 1.2 MM monthly orders and c. USD 2 MM monthly revenue to Delivery Hero's MENA business and will strengthen its leadership position in the UAE. The acquisition will be fully funded by an acquisition facility.

Moreover, Delivery Hero will participate in Zomato's latest funding round by investing USD 50 MM into Zomato's global business to become a Top 10 shareholder and also enter into a material operational partnership agreement.

Niklas Östberg, CEO of Delivery Hero, commented: "Zomato has built a successful food delivery business in the UAE and India on the back of its restaurant search and discovery app and website. The acquisition will allow us to further improve our service to customers in the UAE. We are also excited to become a shareholder in Zomato's rapid food delivery growth story in India and share our learnings."

Deepinder Goyal, CEO of Zomato, commented: "I am delighted to welcome Delivery Hero as a partner and shareholder and look forward to learning from their global experience to help us strengthen our fast growing India food delivery business."


About Delivery Hero:
Delivery Hero is one of the leading global online food ordering and delivery marketplaces with number one market positions in terms of restaurants, active users and orders in more countries than any of its competitors and online and mobile platforms across 41 countries in Europe, the Middle East & North Africa (MENA), Latin America and the Asia-Pacific region. Delivery Hero also operates its own delivery service primarily in over 200 cities around the world. The Company is headquartered in Berlin and has over 21,000 employees.
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WKN: A2E4K4; ISIN: DE000A2E4K43

About Zomato:
Founded by Deepinder Goyal, Zomato is a restaurant reviews, restaurant discovery, food delivery and dining out transactions platform providing in-depth information for over 1.4 million restaurants across 24 countries and serves more than 65 million users every month.


Investor Relations Enquiries
Duncan McIntyre
SVP Corporate Finance & Head of Investor Relations

Media Enquiries
Bodo v. Braunmühl
Head of Corporate Communications

The presentation contains forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("Forward-looking Statements"). These Forward-looking Statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "aims", "plans", "predicts", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These Forward-looking Statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding Delivery Hero SE's intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE's prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE's prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE's prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE's results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this press release is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions.

04.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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