German firm invests in online takeaways

Germany's Rocket Internet AG says it will buy a 30 per cent stake in Berlin-based online takeaway company Delivery Hero.

Germany's Rocket Internet AG says it is spending 496 million euros ($A729.25 million) to buy a 30 per cent stake in Berlin-based online takeaway company Delivery Hero.

The internet company said in a statement on Friday that it will also buy Italy's La Nevera Roja and Pizzabo for an undisclosed amount.

It said that the new group, which will also include Rocket's existing foodpanda business, will be the largest online food delivery company in the world outside China by orders.

Rocket raised some 1.4 billion euros with an IPO last year.


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Source: AAP



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