Cab aggregator Ola has acquired online food delivery startup Foodpanda India from its German parent Delivery Hero DH in a stock deal valued at US$40 million.
“Our job was to anticipate problems together with our clients, and resolve them before they get to the closing table, so that there are no last-minute hiccups for either party,” said Stuti Galiya, counsel at Khaitan & Co, which advised Foodpanda and DH.
DH and the Khaitan team applied a pragmatic approach to the deal with a focus on minimizing roadblocks to deal completion. “What made it easier to navigate the negotiations and satisfactorily reach the finish line were the unrelenting endeavours of the commercial and legal teams of DH to ensure smooth facilitation and coordination not only between the numerous moving parts, but the various financial, legal and commercial teams involved as well.”
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