Uber has raised its stake in Delivery Hero, the Berlin-based food delivery company, to 36.83% after buying shares from Aspex Management, a regulatory filing showed, as the companies negotiate a potential deal.

Delivery Hero said Uber now holds 24.99% of the voting rights attached to shares, with the rest of its stake held through instruments, keeping it below Germany’s threshold for a mandatory offer.

Under German takeover rules, an investor that holds 30% or more of voting rights is considered to have control, while cash-settled instruments can count for disclosure without conferring voting control.

People familiar with the matter said Uber paid just under 40 euros (US$47) per share for the Aspex stake, above the indicative 33 euros (US$38)-per-share approach previously disclosed.

Delivery Hero previously said it had received an indicative 33 euros (US$38)-per-share approach from Uber and remained focused on its strategic review process.

Any further increase in Uber’s stake could require antitrust approval in markets where Delivery Hero operates.

🔗 Source: Bloomberg

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