Berlin – A YPOG team led by Martin Schaper and Tim Schlösser advised Delivery Hero on the acquisition of a majority stake in Glovo, a pioneering multi-category delivery app and one of the world’s leading delivery platforms based in Barcelona, Spain. Delivery Hero has been a shareholder of Glovo since 2018 and currently holds approx. 43.8% of its shares (on a non-diluted basis). According to the agreement now signed with several shareholders, Delivery Hero agrees to acquire an additional approx. 39.4% stake in Glovo (on a non-diluted basis), making the world’s leading local delivery platform the majority shareholder of Glovo. In exchange for the Glovo shares, Delivery Hero will issue new shares to the sellers. The transaction values Glovo, on a fully-diluted and cash free and debt free basis, at EUR 2.3 billion before certain adjustments. It is expected to close in the second quarter of 2022, conditional upon regulatory approvals. After closing, Glovo will keep running with its current operating platform, branding and management team. Together, the two fast-commerce pioneers will strengthen their leading positions and develop future delivery processes by innovation.
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Advisors Delivery Hero:
Dr. Martin Schaper (Co-Lead, Corporate/Transactions), Partner
Dr. Tim Schlösser (Co-Lead, Corporate/Transactions), Partner
Dr. Karen Frehmel-Kück (Corporate/Transactions), Senior Associate
About Delivery Hero
Delivery Hero is the world's leading local delivery platform, operating in about 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. Starting with a food delivery service in 2011, Delivery Hero is pioneering the Quick Commerce segment - the next generation of e-commerce - and aims to deliver groceries and housewares to customers in under one hour and often in 10 to 15 minutes. Delivery Hero is based in Berlin and became part of the German leading index DAX (Deutscher Aktienindex) in 2020.
About Glovo
Glovo is a pioneering cross-category app that connects costumers with local restaurants, grocery stores, supermarkets, pharmacies and large retail stores. The mission is to create an easy access for everyone to everything inside cities and local areas. So users will be able to enjoy whatever they want, whenever they want, wherever they want. Founded in Barcelona in 2015, the company operates in 25 countries in Europe, Central Asia and Africa.
About us
YPOG stands for You + Partners of Gamechangers. As a leading law and tax firm, YPOG supports founders, investors, companies and funds in Germany and internationally in bringing visionary ideas to life in the tech ecosystem and dynamic future markets.
YPOG advises on the structuring of venture capital and private equity funds, financing rounds and complex transactions, as well as on regulatory and tax matters relating to digital assets and financial innovation. As a strategic partner, YPOG develops practical solutions of the highest legal standard.
The firm combines legal and tax expertise with legal tech, digital workflows and AI-based systems to provide efficient and scalable advice.
YPOG and its professionals are regularly recognised by JUVE, Chambers and Partners, The Legal 500, Best Lawyers and Leaders League. More than 380 lawyers, tax advisers, tax specialists, one notary and business professionals work for YPOG across its offices in Berlin, Cologne, Hamburg and Munich.
Further information: www.ypog.law/en/ and www.linkedin.com/company/ypog
