Uber Sells Zomato Stake for $390 Million in Block Trade

Uber Technologies Inc. sold its minority stake in Indian food-delivery company Zomato Ltd. for about $390 million in a block trade on Wednesday, according to data from India’s BSE stock exchange.

The San Francisco-based company sold 612.2 million shares, or 7.8% stake, in New Delhi-based Zomato, for 50.44 rupees, or about 64 cents a share, according to a list of bulk deals from the Exchange.

A spokesman for Uber declined to comment.

The sale represents an exit from the Indian food-delivery market for Uber, which sold its Uber Eats unit in the region to Zomato in 2020 in return for ...