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Delivery Hero Raising Up to $1.6 Billion in War Chest for Deals

  • Company raising cash for “attractive investment opportunities”
  • Firm strengthening position in Asia with Woowa acquisition
Photographer: Krisztian Bocsi/Bloomberg
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Delivery Hero SE is raising as much as $1.6 billion in a share sale, building a war chest for potential deals as the fight to dominate the food delivery market intensifies.

The German company will sell as many as 9.44 million new shares in an accelerated offering to bolster its cash position and take advantage of “attractive investment opportunities,” it said in a statement. Delivery Hero has gathered enough orders for all the shares on offer, according to terms of the deal seen by Bloomberg News.