Uber to Acquire Delivery Hero's Foodpanda Business in Taiwan for $950 Million

By Ben Otto

Uber Technologies will acquire the Taiwan operations of Delivery Hero's foodpanda delivery business for $950 million in cash, with closing slated for the first half of 2025.

Uber will also separately purchase $300 million in newly issued ordinary shares of Berlin-based Delivery Hero, the companies said late Monday.

The companies said foodpanda's Taiwanese consumers, merchants and delivery partners will be transitioned to Uber's Uber Eats division. They added that the deal marks one of the largest-ever international acquisitions in Taiwan outside of the semiconductor industry.

Uber last week said it swung to a first-quarter loss as legal settlements and equity investments weighed on results. Ride bookings were weaker than expected, but Uber Eats delivery bookings were slightly higher than analysts' expectations.

Write to Ben Otto at [e-mail]

(END) Dow Jones Newswires

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