King & Spalding and Paul Weiss Rifkind Wharton & Garrison are advising two online food delivery companies in one of the largest acquisitions ever made in the sector.
King & Spalding advised online food ordering company Delivery Hero on its $589m purchase of Turkish food delivery company Yemeksepeti. Its London-based team was led by partner Markus Bauman and included senior associate Ilan Kotkis and finance partner Elisabeth Baltay.
Delivery Hero was also advised by Georg Lindner and Reinhard Ege at German law firm GLNS, Gael Toutain at Luxembourg law firm Atoz, and Ümit Hergüner from Turkey’s Hergüner Bilgen Özeke. Sascha Dethof provided competition advice from Fieldfisher’s Düsseldorf office.
Yemeksepeti was advised by a London team from Paul Weiss Rifkind Wharton & Garrison, led by partner David Lakhdhir and counsel Wendy Semel. Partners Andreas Spahlinger, Jan Balssen and Peter Carl also acted from German firm Gleiss Lutz, with support from partner Galip Selçuk at Dentons Balcıoğlu Selçuk Akman Keki and Loyens & Loeff associate Elie-Raphaël Soudry.
All legal advisers worked closely with Delivery Hero’s general counsel, Oliver Hüfner.
The deal means Delivery Hero can operate in Yemeksepeti’s domestic market and the Middle East, where its platforms provide food ordering services in the United Arab Emirates, Saudi Arabia, Lebanon and Qatar.
Background to the deal
This is the third deal this year on which King & Spalding and GLNS have acted for Delivery Hero. In February 2015, German company Rocket Internet bought a 30 per cent stake in Delivery Hero for around $496m. A month later, Delivery Hero announced its market entry into the Middle East with the $150m takeover of Talabat.com from Rocket Internet.