Ola will acquire Foodpanda’s India business from the Germany based Delivery Hero Group. The company has also committed investment of USD 200 million in the Foodpanda India business.

As per Ola, under the deal, Foodpanda’s India business will be transferred to Ola in exchange of the latter’s stock. The details about the number of shares that will be part of the transaction was not disclosed.

Bhavish Aggarwal, Ola co-founder and CEO stated, “I’m excited about our partnership with Delivery Hero as we team up to take Foodpanda India to the next level. Our commitment to invest USD 200 million in Foodpanda India will help the business be focused on growth…”

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