The company currently owns approximately 43.8% of the shares of Glovo on an undiluted basis.
The transaction will value Glovo 2.3 billion euros on a fully diluted, debt-free basis before certain adjustments, the company said.
Delivery Hero has also committed to provide Glovo with support funding of up to approximately € 250 million in installments during 2020, the company added.
Glovo will continue to operate with its existing brand and platform, under its current leadership, she said.