Amrest concludes the sale of its stake in Glovo for 76.15 million euros

The group has closed with its beautiful and financing banks some exemptions to cover the level of indebtedness until the fourth quarter of 2021.

Glovo invests 20 million to create an ultra-fast delivery service

The multinational restaurant company Amrest has closed the transmission of your participation in the Glovo home delivery platform, as reported through a statement to the National Securities Market Commission (CNMV).

Amrest owned the 7.5% of the share capital of Glovo and has agreed to sell it for a total amount of 76.15 million euros.

On the other hand, the company has obtained from the banks and bondholders that provide the financing a series of exemptions for the fulfillment of the financial commitments on its level of debt for the fourth quarter of 2020 and the first three of 2021.

In this period, reports Amrest, the covenants will be “replaced by a commitment to maintain a minimum level of liquidity“.