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Uber sells stake in Indian food delivery platform Zomato, cashing out $392 million, sources say

  • linda
  • 2022-08-03 21:31:25
  • 272 read
　　Uber on Wednesday sold its 7.8 percent stake in Indian food delivery company Zomato for $392 million in a b...

　　Uber on Wednesday sold its 7.8 percent stake in Indian food delivery company Zomato for $392 million in a block trade on a local exchange, according to two people familiar with the matter.

　　Affected by the news, Zomato shares fell as much as 6.8% on Wednesday.

　　The block deal was executed at 50.44 rupees per share, and Uber sold a total of 612 million Zomato shares worth 30.87 billion rupees ($392 million).

　　About 20 global and Indian funds bought the stakes, including Fidelity, Franklin Templeton and India's ICICI Prudential, one of the sources said.


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