Business / Zomato To Sell UAE Food Delivery Business For $172 Million

NDTV : Mar 05, 2019, 10:43 AM
Zomato Media will sell its UAE food delivery business to Germany's Delivery Hero Group for about $172 million, Zomato's second-largest shareholder Info Edge (India) Ltd said on Monday. Zomato raised an additional $105 million in its ongoing funding round. Info Edge, an online services firm, will own a 26.38 per cent stake in Zomato after the deal closes. Zomato will continue to run the business on its own platform.