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Delivery Hero sells part of its stake in Rappi

By Reuters

BERLIN – German food delivery group Delivery Hero said on Monday it had sold $150 million worth of its stake in the Latin-American delivery company Rappi, close to the entire capital it had invested in the company.

Delivery Hero still holds just under 8% in Rappi on a fully diluted basis, valued at over $400 million, it said, adding that it was planning to monetize the remaining Rappi shares over time as it aims to focus on other investments.