BERLIN, Sept 16 (Reuters) - Delivery Hero said it
would buy the Latin American operations of Glovo for up to 230
million euros ($272 million), extending the reach of the food
delivery group that was recently promoted to Germany's blue-chip
The deal adds Peru, Ecuador, Costa Rica, Honduras and
Guatemala to Delivery Hero's stable of businesses, while
expanding its existing operations in Argentina, Panama and the
The deal includes a performance-based 'earn-out' of 60
million euros, and is expected to close in the next few weeks,
Delivery Hero said in a statement.
The Berlin-based group operates in 44 countries across
Europe, Latin America, Asia, the Middle East and North Africa.
It also operates its own delivery service in over 600 cities.
($1 = 0.8450 euros)
(Reporting by Douglas Busvine; Editing by Mark Potter)