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Khaitan, CAM rideshare $40m Ola snack of Foodpanda

“Ola, operated by ANI Technologies Pvt. Ltd, has acquired online food delivery start-up Foodpanda India from its German parent Delivery Hero AG in an all-stock deal that will see the ride-hailing firm infuse $200m in Foodpanda India’s operations,” reported Mint.

The taxi aggregator has bought Foodpanda India for about $40m, while separately investing the $200m earlier reported to take on rival UberEats and incumbents Zomato and Swiggy in one of the most-coveted and high-frequency consumer markets in India, according to the Economic Times.

Khaitan & Co director Ketan Kothari, counsel Stuti Galiya and associates Bidya Mohanty, Varun Narayan and Urvashi Mehta acted for Delivery Hero and Foodpanda on the Corporate aspects with assistance on the Intellectual Property related aspects from counsel Shailendra Bhandare and associate Sourav Dan and on corporate secretarial aspects from consultant Subramanian Ramaswamy.

Cyril Amarchand Mangaldas partner Reeba Chacko advised Ola on this deal.

Other firms which have acted for Ola in the past include IndusLaw, of which the taxi aggregator has been a steady client since 2014 on various investment deals.

Foodpanda has been running net losses for the last two fiscals, according to Mint and laid off over 500 employees and shut down its own delivery service in six cities recently.


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