RB 4 2020 Final settlement of the agreement with Glovoapp23 S.L.
24-01-2020

With reference to the relevant fact 281212 / regulatory announcement RB 24/2019 dated August 13th, 2019 AmRest Holdings, SE (“AmRest”) announces satisfaction of all conditions envisaged by the agreement concluded with Glovoapp23 S.L. (“Glovo”) on August 13, 2019 (“Agreement”) and final settlement of the transaction.

In consideration for the transfer of 100% of shares in Restaurant Partner Polska Sp. z o.o. (“PizzaPortal”)  AmRest received total sale price in the amount of EUR 35 million, as a combination of cash payment of EUR 20 million and newly issued shares of Glovo, which constitutes final settlement of the Agreement.

As a result of the abovementioned transaction AmRest currently holds 7.5% stake in Glovo’s share capital. (non-diluted).

Glovo is one of Europe's leading platform for online ordering and delivery of food and other consumer goods. Currently Glovo has more than 5.5 million users and 16,000 associated partners. It is present in 202 cities across 26 countries in EEMEA, LATAM, and most recently, sub-Saharan Africa.

Legal act:

Art. 17 Sec. 1 of Regulation (EU) No 596/2014 of The European Parliament and of The Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC

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