Ola buys Foodpanda in all-stock deal
Trading Corporation to acquire a 49 per cent stake in Odisha-based Brahmani River Pellets for about Rs 1,200 crore. Incidentally, Tata Steel had signed a similar agreement to acquire a stake in Brahmani River Pellets for Rs 900 crore in December 2016.
Ola, operated by ANI Technologies, has acquired online food delivery start-up Foodpanda India from its German parent Delivery Hero in an all-stock deal. The transaction will also see the ride-hailing company infuse $200 million (around Rs 1,300 crore) in Foodpanda India's operations. Under the deal, Foodpanda India's business will be transferred to Ola in exchange for the latter's stock. The share-swap arrangement and details of the transaction were not disclosed. The deal marks Ola's foray into the online food ordering and delivery segment.