Berlin-based online food ordering service Delivery Hero has acquired Turkish competitor Yemeksepeti for approx. 590 million US dollars. Gleiss Lutz advised Yemeksepeti’s shareholders on the transaction, in particular founder Nevzat Aydin and General Atlantic.
According to Delivery Hero, the deal was the largest takeover to date in the food ordering sector. The acquisition was funded through cash and – to a lesser extent – an exchange of shares, with the former shareholders of the company becoming shareholders in Delivery Hero.
Yemeksepeti was launched 15 years ago and processes over 3 million orders each month. Yemeksepeti is also active in the Middle East where its platforms provide food ordering services in the United Arab Emirates, Saudi Arabia, Lebanon, Oman, Qatar and Jordan.
Gleiss Lutz advised extensively on all aspects of German law. In addition, the shareholders of Yemeksepeti were advised by US law firm Paul, Weiss.
The Gleiss Lutz team comprised the following lawyers: Dr. Andreas Spahlinger (Stuttgart), Dr. Jan Balssen (Munich, both lead, both partners, corporate/M&A), Peter Steffen Carl (partner, corporate/M&A, Munich), Dr. Helge Kortz, Dr. Kai Arne Birke (both partners, banking and finance, Frankfurt) and Dr. Daniel Heck (corporate/M&A, Hamburg).
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