December 16 (SeeNews) - Spanish on-demand delivery platform Glovo said on Thursday it has received approval from Romania's anti-trust body to take over the local operations of foodpanda, part of Germany-based group Delivery Hero.
The acquisition creates a sustainable and efficient competition within the local industry, which will contribute to the development of the delivery market and to the provision of better services, Glovo said in a press release.
You can subscribe to our M&A newsletter here
"Glovo has a very ambitious vision for the future of the on-demand delivery market in Romania and we are excited to have the opportunity to build stronger partnerships with retailers and to be able to provide users with a full service" Glovo regional general manager for Southeast Europe Victor Racariu said.
In May, Glovo announced that it is acquiring Delivery Hero's operations on six markets in Southeast Europe (SEE) for a total of 170 million euro ($192 million).
Glovo is acquiring the foodpanda brand in Romania and Bulgaria, the Donesi brand in Serbia, Montenegro and Bosnia and Herzegovina and Pauza in Croatia.
Glovo entered Romania in May 2018 by launching operations in Bucharest.
($=0.8849 euro)