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Ola acquires Food Panda in India, to invest $200mn into food delivery biz

This deal includes the transfer of Foodpanda's India business to Ola in an acquisition deal in exchange for Ola stock.

BS Web Team 

Online cab aggregator Ola is entering the food delivery space after it announced a deal to acquire Foodpanda’s India business from its parent company DeliveryHero for an undisclosed sum. Ola said it is committing an investment of $200 million into the food delivery business.

This deal includes the transfer of Foodpanda’s India business to Ola in an acquisition deal in exchange for Ola stock. DeliveryHero acquired Foodpanda from Rocket Internet at the end of last year, primarily to extend its food-ordering business into Asia, the Middle East and parts of Eastern ...

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First Published: Tue, December 19 2017. 13:00 IST
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