Uber to buy Delivery Hero in $14.8 billion all-stock deal
Uber just announced it is buying Delivery Hero in a $14.8 billion all-stock deal, aiming to nearly double its delivery footprint across nearly 100 markets worldwide, including Europe, the Middle East, Latin America, and Asia.
This move solidifies Uber as a major global player in delivery (everywhere except China).
To keep things efficient, Delivery Hero will sell its businesses in 14 markets where Uber Eats already operates to SSW Partners for $1.6 billion.
Dara Khosrowshahi touts growth, approvals pending
Uber's CEO Dara Khosrowshahi says bringing together delivery and mobility services will unlock new opportunities for growth and innovation.
The deal is expected to boost Uber's edge over competitors like DoorDash and Just Eat but still needs regulatory approval.
Big shareholder Prosus, owning 17% of Delivery Hero, has already agreed to sell its shares, making the finish line look a lot closer.