Ola Acquires FoodPanda India Business, to Further Invest $200 million
Posted on:19 Dec 2017 16:03:08
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19 December 2017 Current Affairs: Business Affairs : Ola, operated by ANI Technologies Pvt. Ltd has acquired food delivery start-up Foodpanda India Pvt. Ltd from its German parent Delivery Hero AG in an all-stock deal that will see the ride-hailing major infuse $200 million in Foodpanda’s India operations.
Under the deal, Foodpanda’s India business will be transferred to Ola in exchange for the latter’s stock. The share-swap arrangement and details of the transaction are still not disclosed.
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