Ola Acquires FoodPanda India Business, to Further Invest $200 million

Ola, operated by ANI Technologies Pvt. Ltd has acquired food delivery start-up Foodpanda India Pvt. Ltd from its German parent Delivery Hero AG in an all-stock deal that will see the ride-hailing major infuse $200 million in Foodpanda’s India operations.

Under the deal, Foodpanda’s India business will be transferred to Ola in exchange for the latter’s stock. The share-swap arrangement and details of the transaction are still not disclosed.

Static/Current Takeaways Important for RBI Assistant Mains 2017 Exam-

  • CEO of Ola- Bhavish Aggarwal, Headquarters- Bengaluru.
Source- The Livemint