Delivery Hero has everything to officially own Glovo. More than six months after announcing the purchase agreement, this group of German home delivery companies has already completed all the procedures that made it the majority shareholder of the Catalan company. attached to it State hear respect’rider law‘ and seal exchange shares with existing investors at a meeting this Monday. Therefore, the German company holds about 94% of Glovo and only needs to manage one operation. raise capital and enter the stock market Catalan
This is explained by Delivery Hero in a statement where the CEOs and co-founders of both companies congratulated the deal. “This collaboration represents the perfect combination,” says Niklas Östberg, CEO of the German company. “We’ve known, loved and trusted each other for years: our teams share the same vision and yet we can continue to learn a lot from each other. exchange of knowledge and discovering synergies technological and operational,” he adds.
For Oscar Pierre, his colleague at Glovo, the deal implies accelerating its growth and development of its product. “We will do it together covers a large part of the population on four continentswith millions of local businesses and deliverers benefiting from our platform,” adds the entrepreneur. “We are delighted to finally start working together and sharing knowledge and technology with other brands in the group,” continues this executive, who is in charge of the company’s management with fellow founder Sacha Michaud.
According to this statement, Delivery Hero will be located in 74 countries and serve up to 2.2 billion people on four continents. As for Glovo, the German group assures it will provide detailed information on the performance of its business in the first half of the year once the acquisition is made official – something that will happen in the coming weeks.
stock market crash
Currently less beneficiaries of the operation are the outgoing shareholders. Both companies agreed that the transaction would be done in shares, meaning that investors would receive Delivery Hero shares in exchange for selling their Glovo shares. The thing is, the German company has since stock market crash: Days after the announcement of the acquisition deal, if each share of the group was worth around 100 euros, this Monday the price just passed 35 euros, 65% less.
So, according to sources close to the operation, shareholders leaving the company would have benefited if the transaction had been settled in cash at a fixed price. In every situation, The benefits or benefits of your investment will be decided after you sell your newly acquired shares. In Delivery Hero.
Source: Informacion
Calvin Turley is an author at “Social Bites”. He is a trendsetter who writes about the latest fashion and entertainment news. With a keen eye for style and a deep understanding of the entertainment industry, Calvin provides engaging and informative articles that keep his readers up-to-date on the latest fashion trends and entertainment happenings.