UBER - Uber Spices Up Taiwan's Food Delivery Scene With $950M foodpanda Deal: What's On The Menu? | Benzinga
Uber Technologies, Inc. (NYSE:UBER) and Delivery Hero SE have struck a deal, with Uber set to acquire Delivery Hero’s foodpanda delivery arm in Taiwan for $950 million in cash.
Separately, the companies have also agreed for Uber to purchase $300 million in newly issued ordinary shares of Delivery Hero.
The transaction is pending regulatory approval and customary closing conditions, slated for the first half of 2025.
Until closing, Delivery Hero will maintain foodpanda Taiwan’s operations, assuring customers and vendors of uninterrupted service.
Post-acquisition, Uber Eats will absorb foodpanda’s local clientele, merchants, and delivery partners.
Uber’s existing presence in Taiwan positions it ...