Delivery Hero to buy Mideast firm Carriage | kuwaittimes

Delivery Hero to buy Mideast firm Carriage

May 29, 2017 | 09:51 p.m EDT

KUWAIT: Online food takeaway firm Delivery Hero, which sources have said is considering a flotation imminently, has agreed to buy Middle East food delivery platform Carriage, the latest in a series of technology deals in the region.

Chief Executive Niklas Ostberg said in a statement yesterday that Kuwait-based Carriage, which operates in the Gulf Council countries, would strengthen Delivery Hero's foothold in a region with "significant growth potential".

The parties agreed not to disclose financial details. Major investors in Delivery Hero include Germany's Rocket Internet and South African media and e-commerce firm Naspers. The deal comes after Dubai's Emaar Malls announced last week it will buy a 51 percent stake in e-commerce fashion website Namshi from Global Fashion Group (GFG), a firm set up by Rocket Internet and Sweden's Kinnevik. - Reuters

May 29, 2017 09:51 PM

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