Delivery Hero, the German online food delivery company, said Friday that it is taking full ownership of its Saudi subsidiary in a transaction valued at $297 million. Shares of Delivery Hero were down 1.4% during afternoon trade. Delivery Hero is one of Europe's biggest food delivery companies, commanding a $10 billion market value. HungerStation connects more than 10,000 partners, including restaurants and grocery stores, with customers, Delivery Hero said in a statement Friday. The deal will help the firm build stronger ties with HungerStation and the rest of the company's portfolio, Delivery Hero added.

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Persons: Niklas Östberg Organizations: Saudi Arabia —, HungerStation Locations: Saudi, HungerStation, Saudi Arabia, Berlin, Kingdom of Saudi, Germany, Netherlands