January 15, 2020 / 6:11 PM / a month ago

Delivery Hero issues convertibles, shares to fund Woowa deal

FRANKFURT, Jan 15 (Reuters) - Food delivery group Delivery Hero on Wednesday said it would issue convertible bonds worth a total 1.5 billion euros ($1.7 billion) and issue up to 8.16 million new shares, which would be worth 579 million at the current price.

The group said the proceeds would be used to help fund its $4 billion takeover of South Korea’s top food delivery app owner Woowa Brothers, which was announced last month. ($1 = 0.8964 euros) (Reporting by Christoph Steitz)

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