Uber buys Delivery Hero for 14.8 billion dollars its biggest acquisition nearly doubling global footprint
Uber $UBER is buying Delivery Hero $DHER for $14.8 billion, its biggest acquisition ever. The deal puts Uber Eats in nearly 100 markets across Europe, the Middle East, Latin America and Asia, pending regulatory approval. Per TechCrunch.
Uber $UBER announced the biggest acquisition in its history: a $14.8 billion offer for Delivery Hero $DHER, the Berlin-headquartered food delivery group. The deal would nearly double Uber's global footprint, taking its ride-hailing and delivery platform to nearly 100 markets across Europe, the Middle East, Latin America and Asia. Two side agreements shape the transaction. Delivery Hero will sell its operations in 14 markets where Uber Eats already competes to New York investment firm SSW Partners for $1.6 billion, a move that removes direct overlap before regulators review the deal. Prosus, Delivery Hero's second-largest shareholder, has agreed to tender its roughly 17% stake, and both Delivery Hero boards unanimously support the offer. The acquisition still needs regulatory approval, and that is where the real test lies: a combination of this size concentrates food delivery outside China into a small group of global platforms, which puts competition authorities in several jurisdictions in the position of ruling on a market that consolidated faster than they could review it. For consumers and restaurants in the affected markets, the question is what pricing looks like once one fewer independent platform is bidding for their business. Reporting: TechCrunch, Bloomberg, Uber investor relations.