Delivery Hero Agrees to Sell Eastern European Units to Glovo

Delivery Hero SE agreed to sell its operations in eastern Europe to Glovo for 170 million euros ($208 million) as the food-delivery service refocuses its expansion plans on its home market of Germany.

The deal includes Delivery Hero’s operations in Bosnia & Herzegovina, Bulgaria, Croatia, Montenegro, Romania, and Serbia, the company said in a statement on Wednesday. The company said it expects most of the sales to close in the next few weeks with the exception of Romania, which will wrap up by the first quarter of next year if it fulfills “certain conditions precedent” and receives regulatory approval.

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