Uber Applied sciences is the doubtless vendor of a 7.8% stake in Indian meals supply agency Zomato being disposed of through a $373 million block deal on Wednesday, in response to a supply with direct information of the matter.
The supply measurement of 612 million shares price $373 million relies on the decrease finish of a 48-54 rupee worth vary set for the block deal, a time period sheet seen by Reuters acknowledged, including that may be at a 2.8%-13.6% low cost to the newest shut.
Zomato and Uber didn’t instantly reply to a request for remark. Shares in Zomato rose 20% to 55.55 rupees on Tuesday.
BofA Securities is the only real bookrunner for the deal. The time period sheet didn’t identify the potential vendor.
On Monday, Zomato mentioned it had recorded extra orders and narrowed its loss for the June quarter to 1.86 billion rupees ($23.67 million) from 3.56 billion rupees a yr earlier.
Uber on Tuesday reported a web lack of $2.6 billion for second quarter of 2022, of which $1.7 billion was associated to its fairness investments, together with its Zomato stake.
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