Global ride-hailing giant Uber Technologies has signed an agreement to acquire foodpanda’s delivery business in Taiwan from Delivery Hero for US$950 million in cash.
The deal is expected to close in H1 2025. Until then, Delivery Hero will continue to operate foodpanda Taiwan. The acquisition is subject to regulatory approval and other customary closing conditions. The deal will combine Uber’s expertise in running a marketplace with foodpanda’s extensive coverage across Taiwan and its relationships with local brands.
Once completed, it would be one of the largest international acquisitions in Taiwan outside the semiconductor industry. Post-closing, foodpanda’s local consumers, merchants, and delivery partners will be transitioned to Uber Eats.
Separately, the companies have also entered into an agreement for Uber to purchase US$300 million in newly issued ordinary shares of Delivery Hero.
Pierre-Dimitri Gore-Coty, Senior Vice President of Delivery at Uber, said: “Bringing together our distinct customer bases, merchant selections, and geographic footprints will allow us to deliver more choices and the best prices for “consumers, stronger demand for restaurants, and more earnings opportunities for delivery partners. Taiwan is a fiercely competitive market, where online food delivery platforms today still represent just a small part of the food delivery landscape.”
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Delivery Hero is a leading local delivery platform, operating its service in over 70 countries across Asia, Europe, Latin America, the Middle East and Africa. Headquartered in Berlin, Germany, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index.
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