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Delivery Hero sells part of its stake in Rappi

Reuters
Updated

BERLIN (Reuters) - German food delivery group Delivery Hero said on Monday it had sold $150 million worth of its stake in the Latin-American delivery company Rappi, close to the entire capital it had invested in the company.

Delivery Hero still holds just under 8% in Rappi on a fully diluted basis, valued at over $400 million, it said, adding that it was planning to monetize the remaining Rappi shares over time as it aims to focus on other investments.

(Reporting by Riham Alkousaa, editing by Kirsti Knolle)