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Delivery Hero IPO to raise nearly 1bn euro

Takeaway service Delivery Hero plans to raise almost 1 billion euro (£875 million) via a stock market flotation that values the company at over 4 billion euro (£3.5 billion). The firm will sell 39 million shares at between 22 and 25.5 euro (£19-22) each. Founded in 2011, Delivery Hero operates in 40 countries across Europe, the Middle East, the Americas and Asia. The company says it reaches 2.7 billion consumers, either by providing an order-placing platform for restaurants with their own delivery service or by delivering food with its own fleet service.

AIRBUS GETS EU NOD

The European Union has approved 377 million euro (£330 million) in state aid from France and Germany for the development of a new Airbus helicopter. EU Competition Commissioner Margrethe Vestager said on Monday the subsidies will boost private investment in the project and "help bring a new generation of innovative heavy helicopters to the market" without distorting competition in the 28-nation bloc. Ms Vestager said the X6 helicopter project exceeds the self-financing capacity of Airbus, allowing for state aid to go ahead.

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