LONDON, May 08, 2015 — King & Spalding advised online and mobile food ordering company Delivery Hero on the US$589 million purchase of Turkish food delivery giant Yemeksepeti. The transaction is one of the largest acquisitions ever made in the online food ordering sector and the third major deal involving Delivery Hero so far in 2015.
Yemeksepeti was launched 15 years ago and today processes over 3 million orders each month across its markets. In addition to operating in its domestic market, Yemeksepeti is notably active in the Middle East where its platforms provide food ordering services in the United Arab Emirates, Saudi Arabia, Lebanon, Oman, Qatar and Jordan. Additional information on the deal can be found here.
The Yemeksepeti purchase is the third significant deal involving Delivery Hero this year. In March, Delivery Hero acquired Talabat.com from Rocket Internet, which had acquired the business for approximately €150 million (click here for more details). This followed February’s acquisition of a 30 percent stake in Delivery Hero by Rocket Internet for approximately €496 million (click here for more details).
King & Spalding acted as international counsel to Delivery Hero on the Yemeksepeti purchase as well as both the earlier Talabat.com and Rocket Internet transactions. The London-based team on the Yemeksepeti matter was led by partner Markus Bauman and included senior associate Ilan Kotkis (corporate) and partner Elisabeth Baltay (finance).
German law advice on all the deals was provided by GLNS. Turkish law advice on the Yemeksepeti transaction was provided by Hergüner Bilgen Özeke. Luxembourg law advice on the Yemeksepeti transaction was provided by Atoz. Competition law advice on the Yemeksepeti transaction was provided by Field Fisher. The legal advisers worked closely with Delivery Hero’s general counsel, Dr. Oliver Hüfner.
About King & Spalding
Celebrating more than 125 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 800 lawyers in 17 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.