Stockholm, 2014-09-04 08:00 CEST (GLOBE NEWSWIRE) --
Vostok Nafta Investment Ltd ("Vostok Nafta" or the "Company") today announces that it has invested EUR 25 mln into a combination of senior secured debt and warrants issued by Delivery Hero GmbH (“Delivery Hero”), the largest global provider of online and mobile food ordering. Vostok Nafta’s Investment is part of a larger fundraising round to support Delivery Hero’s continued strong growth.
Delivery Hero is a worldwide network of online food ordering sites with over 75,000 restaurants connected to its service. The company operates in 23 countries across five continents, including Germany, Sweden, UK, Korea, China and India. Delivery Hero’s restaurant partners generate more than one billion USD in annual sales via online orders or mobile applications and deliver more than 10 million meals every month. Delivery Hero has more than 800 employees around the world with 400 staff working from its Berlin headquarters.
Vostok Nafta's Managing Director Per Brilioth comments:
“We are excited to partner up with a global market leader and invest into senior secured debt with an equity kicker issued by Delivery Hero. The company is a classic marketplace business with strong network effects much along the lines of its listed peers Just Eat (UK) and GrubHub (US), with EBITDA margins at maturity of 50%+. This debt will deliver a significant yield pick-up compared to and replace part of our current liquidity portfolio consisting of listed corporate bonds.”
Per Brilioth
Managing Director
For further information please contact:
Björn von Sivers, Investor Relations, Tel +46 8 545 015 50
