Berlin-based Delivery Hero has moved to formalise its acquisition of Glovo in Morocco, in what amounts to the final step in a €2.3bn global takeover first announced at the end of 2021. The filing, published by Morocco’s Competition Council on September 18, comes just two months after Glovo agreed to overhaul its business model in the country to settle an antitrust probe, Launch Base Africa reported.
The watchdog said it had received a notification for the “acquisition by Delivery Hero SE of exclusive control of Glovoapp23 S.A.” The transaction would give the German group control over 94.49 per cent of Glovo’s share capital and voting rights in the Moroccan market. Third parties have until September 29 to submit comments.
The move is largely procedural. Delivery Hero became Glovo’s majority shareholder in mid-2022 and has since operated the Barcelona-founded company as part of its international portfolio, alongside Talabat in the Middle East and Foodpanda in Asia. The Moroccan filing is intended to bring local operations into line with the group’s global corporate structure.
Its timing, however, follows a turbulent period for Glovo in Morocco. In July, the company reached a settlement with the Competition Council to close a probe into alleged abuse of dominance. The investigation, triggered by a complaint from domestic rival Kooul, included a dawn raid on Glovo’s Casablanca offices in late 2024. To resolve the case, Glovo agreed to remove exclusivity clauses in its contracts with restaurants, cap commission rates at 30 per cent, introduce greater transparency over platform rankings, and improve conditions for couriers. The settlement also involved a financial penalty, the size of which was not disclosed.
Delivery Hero and Glovo have spent years reshaping their respective footprints through asset swaps and acquisitions. In 2020, Glovo sold its Latin American operations to Delivery Hero, while in 2021 Delivery Hero divested its Central and Eastern European businesses to Glovo. These deals set the stage for Delivery Hero’s full takeover, which closed in 2022 and allowed Glovo to retain its brand and leadership team.
The Competition Council will now examine whether the final consolidation raises any new competition concerns. Having only recently secured changes to Glovo’s operating model, the regulator may be under pressure to ensure the transaction does not undermine those commitments.
