- UBER TECHNOLOGIES INC
- 16 July 2026 10:03:19
Source: Sharecast
Under the terms of the acquisition, the US ride hailing app has agreed to pay €41.50 per share in cash for the food delivery business, a 34% premium to the three-month volume-weighted average share price prior to the announcement.
Uber has been focused on ramping up its overseas presence in the face of mounting competition from the likes of DoorDash in its home market. Its acquisition of Delivery Hero is set to create the largest food-delivery firm outside of China, with a combined pro-forma gross merchandise value of $236bn in 2025 and spanning 99 countries.
Dara Khosrowshahi, Uber chief executive, said: "By bringing our platforms together, Uber will extend affordable, reliable delivery to many millions more people in some of the world’s most dynamic economies."
Kristin Skogen Lund, chair of the Delivery Hero supervisory board, said: "The food delivery business is highly competitive and scale dependent. It is challenging to build from a European base, yet we have achieved an enormous amount over the last 15 years. Joining forces with a strong partner now is the right move for Delivery Hero to best secure its future competitiveness and ability to deliver value for all our stakeholders."
As part of the deal, Delivery Hero’s businesses in 14 markets where it competes with Uber Eats will be sold to New York investment firm SSW Partners, for €1.4bn. Uber will acquire the remaining 50 markets.
As at 0930 BST, Delivery Hero’s Frankfurt-listed shares were off 1%, while Uber’s New York shares were largely unchanged in pre-market trading.
The acquisition, which remains subject to regulatory approvals, is conditional on a minimum acceptance threshold of 50% plus one share. Leading shareholder Prosus has already agreed to sell its stake of just under 17%, Reuters noted.
Uber has also committed to invest €2bn in Germany through to 2031 and to retain the Berlin head office until at least 2029.