Uber acquires Delivery Hero for just under 13 billion euros.
The US ride-hailing provider Uber is acquiring the Berlin-based meal-delivery service Delivery Hero. According to the companies, Uber offers 41.50 euros per share. This values Delivery Hero at just under 13 billion euros.
The takeover is based on Uber's already existing stake. The group had recently held just under 25 percent of the shares as well as financial instruments representing just under 12 percent. In addition, there is the acquisition of the roughly 17-percent stake of major shareholder Prosus, which had committed to selling in connection with the Just Eat Takeaway takeover.
Berlin site remains
Uber has committed, as part of the transaction, to maintaining Delivery Hero's headquarters in Berlin. In addition, there should be no changes to the workforce at the Berlin site through at least 2029.
Delivery Hero is no longer operational in Germany following the sale of its Germany business to Just Eat Takeaway. However, the company remains represented in numerous international markets, including Asia, Southern Europe, on the Arabian Peninsula and in Africa.
Acquisition had already been announced
Delivery Hero had previously announced that the company was in advanced talks regarding an acquisition by Uber. After the talks became public, the company's stock rose in pre-market trading. The stock had already risen significantly since mid-April, after Uber had expanded its stake.
With the acquisition, Uber strengthens its position in the international market for food delivery. In addition to its mobility business, the company already operates its own delivery service with Uber Eats in numerous countries. (Source: dpa)
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