Delivery Hero acquires remaining shares of HungerStation
- Date: 24-Jul-2023
- Source: Wamda
- Sector:Technology
- Country:Saudi Arabia
Delivery Hero acquires remaining shares of HungerStation
Press release:
Today, Delivery Hero SE (“Delivery Hero” or “the Company”) announced that it has purchased all outstanding minority shareholdings – a total of 37% – in HungerStation Holding Limited (“HungerStation”), the sole shareholder of HungerStation Company Ltd in the Kingdom of Saudi Arabia (“KSA”), which operates Delivery Hero’s Saudi business.
The transaction came to a total of $297 million, which Delivery Hero considered a highly attractive purchase price. In FY 2022, HungerStation generated revenue growth of 36% to €609 million and achieved a positive EBIT, including group costs, of more than €50 million.
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