UBER Technologies is buying Delivery Hero’s foodpanda business in Taiwan for US$950 million.
The all-cash deal, subject to regulatory approval, is expected to close in the first half of 2025, the two companies said in a joint statement. Separately, Uber has also agreed to purchase US$300 million in newly issued ordinary shares of Delivery Hero.
The acquisition marks a major investment for the Uber Eats delivery service, which has secured a strong position as the leader in Japan’s food delivery market and is looking to expand further in Asia. Uber Eats has grown in major international delivery markets including Australia, France and Mexico, while adding new retail and grocery partners to its platform. Its nascent but growing advertising business has also helped expand margins for the delivery business.
The deal also marks one of the biggest takeovers in Taiwan outside of semiconductors. Uber will combine the two businesses under the Uber Eats brand when the deal is concluded. BLOOMBERG
