Noerr advises foodpanda on sale of delivery services

Noerr has advised the foodpanda Group on the sale to JustEat plc. of food delivery service companies which do not belong to foodpanda’s core business. The transaction affects the markets in Brazil and Mexico as well as the Rocket internet services in Italy (Pizzabo) and Spain (La Nevera Roja). The total purchase price is €125m.

Even after this sale, foodpanda continues to be the market leader in emerging countries and is present in a total of 24 countries. The company will focus its activities on its core markets in Asia, the Middle East and Eastern Europe.

The transactions in Italy, Brazil and Mexico have been completed. Clearance by the Spanish antitrust authorities is expected to be given in the second quarter 2016.

In this transaction the Noerr team worked closely together with the firm’s UK partner law firm Addleshaw Goddard. With its Private Equity & Venture Capital Practice Group, Noerr belongs to the leading law firms in the field of growth capital/venture capital and regularly advises clients on significant investments, buy-outs and financing rounds. Its clients include both growth companies as well as market leaders, including the foodpanda Group, Zalando, Rocket Internet, Jimdo and Global Fashion Group, as well as investors such as Oakley Capital, Deutsche Telekom/T-Ventures and Scottish Equity Partners.

Advisors to foodpanda Group: Noerr LLP

Sebastian Voigt (Dresden) , Dr. Sascha Leske (New York, both lead), Arkadiusz Ruminski (all Private Equity & Venture Capital)

Associates: Kamil Adamski (Warsaw), Markus Bietz, Julia Kominek (both Munich, all Private Equity & Venture Capital)