Uber agreed on July 16 to buy Delivery Hero SE, a Germany-based food-delivery company, in a deal that values it at US$14.8 billion.

Uber offered 41.5 euros (US$48) a share to acquire most of Delivery Hero’s global business across 50 markets.

SSW Partners, an investment firm, will separately acquire 14 markets for about US$1.6 billion, including Austria, Norway, Spain, and Sweden.

Delivery Hero said it entered into agreements with Uber and SSW covering certain businesses. Uber already owned about 25% of Delivery Hero before agreeing to buy the rest.

Prosus NV, an Amsterdam-listed investment company and major Delivery Hero shareholder, will be bought out as part of the deal.

Prosus had already been required by the European Commission to significantly reduce its stake in Delivery Hero as a condition of its Just Eat Takeaway.com acquisition.

Uber’s takeover also remains subject to regulatory approval.

The deal follows DoorDash’s agreement to buy Deliveroo and Prosus’s deal for Just Eat Takeaway.com, as food-delivery companies combine in a sector where profitability is hard to achieve.

🔗 Source: Bloomberg

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