Delivery Hero: Shares Up 20% on Taiwan Divestment and Uber Minority Stake
Delivery Hero announced the sale of its Taiwan business Foodpanda to Uber Eats on May 14 for $950 million on a cash-free and debt-free basis. The deal is targeted to close in the first half of 2025, subject to the fulfillment of customary closing conditions and regulatory approvals, including merger control approval. Additionally, Uber agreed to acquire a minority stake in Delivery Hero by purchasing newly issued shares at a placement price of EUR 33 per share, which is around a 30% premium to the preannouncement price. This stake represents approximately 3% of Delivery Hero's share capital after the implementation of the capital increase.