Noerr advises foodpanda on the sale of Delivery Club for $100m to Mail.Ru Group
Noerr advised long term client Foodpanda on the sale of Delivery Club, the number one internet food delivery company in Russia, to Mail.Ru Group, one of Russia’s largest Internet companies.
Mail.Ru Group will acquire 100% of Delivery Club in an all cash transaction. The total deal value is $100m. The deal is not subject to any third party approvals. Delivery Club is the leading player in the growing Russian internet food delivery market. It currently has over 4,500 connected restaurants with the number of daily orders reaching 20,000. In H1 2016 net revenues were RUB 296 million.
Mail.Ru Group is listed on the London Stock Exchange and is a leading company in the Russian-speaking Internet markets. The company is operating Russia's leading email service and one of Russia's largest internet portals, Mail.Ru, as well as the three largest Russian language social networks, VKontakte, Odnoklassniki and Moi Mir.
Advisor to Foodpanda: Noerr (Moscow)
Peter Schulze (transaction lead), Björn Paulsen (Berlin/Moscow), Hannes Lubitzsch, Anna Fufurina (all Corporate/M&A), Stefan Weber, Artem Kara (both Antitrust & Competition), Maxim Vladimirov (Tax & Private Clients), Vyacheslav Khayryuzov (IT, Outsourcing & Data Privacy, all Moscow).