Foodpanda India is set to change hands again, as taxi aggregator Ola will now acquire the company from German food delivery service Delivery Hero. In a press release on Tuesday, Delivery Hero said Ola had also committed to invest $200 million (Rs 1,280 crore) in Foodpanda’s Indian subsidiary. In return, Ola will sell part of its stake to Delivery Hero.
Delivery Hero had acquired Foodpanda, a food delivery company, and its Indian arm in December 2016.
“The partnership with Ola will allow us to further consolidate markets where it strategically makes sense to collaborate with leading local players,” Delivery Hero Chief Executive Niklas Ostberg said. “At the same time the equity stake in Ola will allow Delivery Hero to participate in the long term Indian food delivery opportunity”.