Report Wire - Uber exits Zomato through block deal

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Uber exits Zomato through block deal

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Uber Technologies, zomato, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

Uber Technologies exited Zomato by a block deal on Wednesday, promoting its whole 7.8 per cent stake within the meals supply aggregator for about Rs 3,087 crore. The deal was executed at Rs 50.44 a share.

The consumers included world funding and enterprise capital corporations corresponding to Keysquare Capital, James Street, Templeton Global, FMR and Mirae Asset Global Investments, amongst others. British asset administration agency Schroders and US asset supervisor BlackRock additionally took half within the block deal, sources instructed FE.

Domestic funds (buyers in rupee phrases) included ICICI Prudential Mutual Fund, ICICI Prudential Life Insurance, Nippon India Mutual Fund, Avendus Capital, HDFC Life Insurance, New Horizon and Templeton’s native arm amongst others.

BofA Securities was the only bookrunner to the deal.

The block deal comes after the one-year lock-in-period for pre-IPO shareholders of Zomato ended on June 23.  FE