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Naspers buys half of Rocket's stake in Delivery Hero for $775 million

Staff Writer |
Naspers increased its investment in online food takeaway firm Delivery Hero, buying half the stake of German investor Rocket Internet for 660 million euros ($775 million).

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The deal is the latest high-stakes bet on online food delivery platforms by Naspers, which already runs similar sites in Brazil, Mexico, South Africa and in May paid $80 million to buy into India’s Swiggy.

The investment in loss-making Delivery Hero comes as some of Naspers’ investors are losing patience with losses from more than a dozen e-commerce platforms that include Letgo and OLX - the biggest classified sites in India and Brazil.

Chief executive Oliver Samwer said the stake sale was a vindication of Rocket’s investment strategy.

Naspers first took a stake in Delivery Hero in May, a month before the Berlin-based takeaway firm went public.

On Thursday, it lifted its stake to 23.6 percent, making it the biggest shareholder in one of Europe’s largest internet startups.

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