Uber’s $14.8B Delivery Hero Deal to Nearly Double Global Reach
Uber has officially agreed to acquire Delivery Hero in an all-stock transaction valued at $14.8 billion, aiming to nearly double its market presence across Europe, Asia, the Middle East, and Latin America.
Uber has officially announced an agreement to acquire German-based food delivery platform Delivery Hero in an all-stock transaction valued at $14.8 billion. If completed, the deal will nearly double Uber’s global footprint, adding nearly 100 markets across Europe, the Middle East, Latin America, and Asia. In a separate agreement, Delivery Hero has agreed to sell its operations in 14 markets—where Uber Eats already operates—to New York-based investment firm SSW Partners for $1.6 billion.
Uber was already the largest shareholder of Delivery Hero. The acquisition requires a minimum tender of 50% plus one share of Delivery Hero’s outstanding shares. Major shareholder Prosus has agreed to sell its 17% stake as part of the deal.
If the acquisition closes, Uber’s delivery platform will become one of the largest in the world, particularly outside China. The deal is likely to face regulatory scrutiny. It will position Uber to better compete with rivals such as DoorDash and Just Eat.
“Together, we’ll nearly double the number of markets where we offer both mobility and delivery services, scaling a proven platform that we believe will create significant long-term value for our customers and shareholders,” Uber CEO Dara Khosrowshahi said in a statement.
