EQS-News

Uber Eats to acquire Delivery Hero’s foodpanda delivery business in Taiwan

EQS-News: Delivery Hero SE / Key word(s): Mergers & Acquisitions/Disposal Uber Eats to acquire Delivery Hero’s foodpanda delivery business in Taiwan 14.05.2024 / 05:02 CET/CEST The issuer is solely responsible for the content of this announcement. Uber Eats to acquire Delivery Hero’s foodpanda delivery business in Taiwan

• Acquisition brings together the companies’ complementary merchant, delivery partner, and consumer bases into a single app, creating significant value
• Deal is one of the largest-ever international acquisitions in Taiwan, highlighting its attractiveness for companies and investors

May 14, 2024, SAN FRANCISCO and BERLIN — Uber Technologies, Inc. (NYSE: UBER) and Delivery Hero SE (FSE: DHER) have reached an agreement for Uber to acquire Delivery Hero’s foodpanda delivery business in Taiwan for $950 million in cash. The acquisition of foodpanda Taiwan is subject to regulatory approval and other customary closing conditions and is targeted to close in the first half of 2025. Separately, the companies have also entered into an agreement for Uber to purchase $300 million in newly issued ordinary shares of Delivery Hero.

Until closing, Delivery Hero is dedicated to continue operating foodpanda Taiwan as before, offering the best possible service for its customers and vendors. In the period following closing, foodpanda’s local consumers, merchants, and delivery partners will be transitioned to Uber Eats. 

Due to its existing presence in Taiwan, Uber is best placed to build upon the significant local operations developed by Delivery Hero and foodpanda over the past years, and invest further into an improved experience for consumers, merchants, and delivery partners.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: “The strength of our Taiwanese business is a testament to the hard work of many teams over the last eight years. In order to build a world-leading service, we have come to the conclusion that we need to focus our resources on other parts of our global footprint, where we feel we can have the largest impact for customers, vendors and riders. This deal gives foodpanda an exciting runway in Taiwan and we wish them all the best in their next chapter.”