Uber and Delivery Hero have announced a deal where Uber will acquire Foodpanda’s food delivery business in Taiwan, which is owned by Delivery Hero, for a whopping $950 million in cash. The next step is for this deal to be approved by the regulatory authorities, with completion expected in the first half of 2025. In addition, Uber will also purchase $300 million worth of Delivery Hero’s capital stock as part of this deal.
Foodpanda will continue to operate in Taiwan until the acquisition is finalized, after which all partners will be transferred to Uber Eats. There were previous reports last year that Foodpanda was looking to sell its business in Southeast Asia, excluding Taiwan, but Delivery Hero’s CEO, Niklas Ostberg, has recently stated that there are no plans to sell the business in this region.
Source: Delivery Hero
Information disclosed: LINE MAN Wongnai is the parent company of Blognone.
TLDR: Uber to acquire Foodpanda’s business in Taiwan from Delivery Hero for $950 million in cash, subject to regulatory approval, with completion expected in the first half of 2025. Uber will also purchase $300 million worth of Delivery Hero’s capital stock. Delivery Hero CEO states no plans to sell business in Southeast Asia region.
Leave a Comment