Info Edge (India) has informed that Zomato Media, (Zomato) has signed a definitive agreement to acquire Uber's food delivery business in India (Uber) in an all-stock transaction, which gives Uber 9.99% ownership in Zomato. Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective today. Upon closing of said acquisition, its shareholding in Zomato shall stand reduced to about 22.71 % on fully converted & diluted basis.
The above information is a part of company’s filings submitted to BSE.
