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Delivery Hero buys Turkey’s Yemeksepeti in $589 million deal-Reuters

(Reuters) – Online food takeaway company Delivery Hero said on Tuesday it agreed to buy Turkish peer Yemeksepeti in a transaction valued at $589 million (390 million pounds) to expand its business.

The acquisition is funded through cash and shares, with the former shareholders of the company, including General Atlantic, becoming shareholders in Delivery Hero, the group said.

Delivery Hero is 39 percent owned by Germany’s Rocket Internet.