UBER Sep 2024 70.000 put
- Bloomberg
Uber to Buy Delivery Hero’s Taiwan Business for $950 Million
(Bloomberg) -- Uber Technologies Inc. is buying Delivery Hero SE’s Foodpanda business in Taiwan for $950 million, shoring up its control of a key Asian market as it seeks to expand in the region.Most Read from BloombergTrump Vows ‘Day One’ Executive Order Targeting Offshore WindTesla Rehires Some Supercharger Workers Weeks After Musk’s CutsGameStop Shares Soar as ‘Roaring Kitty’ Revitalizes Retail FrenzyMacron Puts French Banks in Play With Plan to Transform EuropeChina to Start $138 Billion Bon
- Reuters
UPDATE 2-Uber to buy Delivery Hero's foodpanda business in Taiwan for $950 mln
Ride-hailing company Uber will acquire Delivery Hero's foodpanda branded takeaway business in Taiwan for $950 million in cash, the companies said on Tuesday. The deal comes as Germany's Delivery Hero has been trying to divest some of its overseas businesses to improve profitability, as investor concerns regarding the company's cash position grow. "We need to focus our resources on other parts of our global footprint, where we feel we can have the largest impact for customers, vendors and riders," Niklas Ostberg, CEO and co-founder of Delivery Hero, said in a joint statement.
- Reuters
Uber to buy Delivery Hero's foodpanda business in Taiwan for $950 million
The deal comes as Germany's Delivery Hero has been trying to divest some of its overseas businesses to improve profitability, as investor concerns regarding the company's cash position grow. "We need to focus our resources on other parts of our global footprint, where we feel we can have the largest impact for customers, vendors and riders," Niklas Ostberg, CEO and co-founder of Delivery Hero, said in a joint statement. As part of the deal with Delivery Hero, the U.S. firm has also agreed to purchase $300 million in newly issued shares of Delivery Hero at 33 euros each and own around 2.98% of the company, the companies said.
