Delivery Hero Holders Sell Up to $1.4 Billion Stake in Offering

A group of Delivery Hero SE’s shareholders are selling a stake in the online food-delivery firm worth as much as 1.2 billion euros ($1.4 billion), cashing in on a strong run in the company’s stock price during the coronavirus pandemic.

Funds managed by Altos, Hillhouse, Goldman Sachs Group Inc., BonAngels, Greenspring and Naver are selling 9.8 million shares, representing 3.9% of the company’s outstanding capital, according to terms seen by Bloomberg. The lockdown winner’s stock has surged about 68% over the past year, amid spikes in Covid-19 infections across Europe.

Read More: Delivery Hero Says 2021 Sales May More Than Double, Shares Climb

The sellers will be subject to a 90-day lockup period after the transaction. Delivery Hero’s shares closed down 3% at 127.90 euros on Tuesday.

Goldman Sachs and Morgan Stanley are arranging the share sale.

©2021 Bloomberg L.P.

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