Delivery Hero acquires majority stake in Spanish food delivery app Glovo

Dec 31 (Reuters) – German food delivery group Delivery Hero (DHER.DE) said on Friday it had signed an agreement to acquire about a 39.4% stake in Spanish delivery app Glovo (an Entrée Capital portfolio company).

The company currently holds about 43.8% in Glovo shares on a non-diluted basis.

The transaction will value Glovo at 2.3 billion euros on a fully diluted and debt free basis before certain adjustments, the company said.