As we have mentioned here recently, Rocket Internet is the company behind recent successful listing of Delivery Hero on the German Stock Exchange, in one of the start-up scene’s most anticipated IPOs. In that process the company effectively banked hundreds of millions of euros. Now, Rocket Internet has announced that it has sold a further 13 percent stake in Delivery Hero. The value of the transaction is thought to be in the order of 660 million euros.
The buyer of the stake was the South African media group Naspers, which already participated in the June IPO of Delivery Hero. Naspers has thus increased its stake in Delivery Hero to 23.6 percent, while Rocket Internet has decreased its share in the company from 26 to 13 percent.
While the deal needs to be approved by the supervisory authorities, it is expected to be completed in the first quarter of 2018. At the same time, Rocket Internet reported its earnings for the first half of 2017, in which the Internet group was able to show further revenue growth and reduced losses.