Noerr advises Rocket Internet on 496 million euro investment in Delivery Hero
The international law firm Noerr has advised Rocket Internet AG on the acquisition of a 30 per cent stake in the internet platform Delivery Hero. Delivery Hero is the world’s leading group for online and mobile food delivery services. Rocket acquired both existing and new shares with the transaction, which has a volume of approximately 496 million euros. Rocket Internet has been listed on the Frankfurt Stock Exchange since October 2014 and regularly relies on Noerr to provide it with advice and support with respect to its activities.
Rocket is integrating this newly acquired stake in Delivery Hero into its recently established Global Online Takeaway Group, in which the company is also bundling its investments in foodpanda and its recently acquired stakes in the southern European delivery services in La Navera Roja and Pizzabo.
Since the IPO, the food and groceries sector in particular has played a key role in the activities of Rocket Internet. The company sees the constantly growing e-commerce market for food and groceries as the next significant online retail market. Delivery Hero Holding GmbH, which is headquartered in Berlin, has more than 90,000 affiliated restaurants in 24 countries on national internet platforms, such as “Lieferheld.de” in Germany.
Advisors to Rocket Internet AG: Noerr
Dr Sascha Leske (Private Equity & Venture Capital, team lead), Dr Kathrin Westermann (Antitrust Law); Associate: Dr Hilmar Hamm (Private Equity & Venture Capital, all Berlin)