Uber acquires the Delivery Hero business in Taiwan for 1,158 million euros By EFE

Uber acquires the Delivery Hero business in Taiwan for 1,158 million euros By EFE
Uber acquires the Delivery Hero business in Taiwan for 1,158 million euros By EFE

Taipei, May 14 (.).- The American Uber (NYSE:) acquired the home delivery business of the German Delivery Hero (ETR:) in Taiwan, called foodpanda, for a sum of 1,250 million dollars (about 1,158 million of euros), both companies announced this Tuesday.

In a joint statement, Uber and Delivery Hero indicated that this purchase is still subject to approval by the island’s regulatory authorities, so it is expected to close in the first half of 2025.

Under this agreement, Uber acquires the foodpanda business for $950 million (€880 million) in cash and agrees to invest another $300 million (€278 million) in newly issued shares of Delivery Hero, which will continue to take charge. of foodpanda’s business until the closing of the purchase.

“Due to its presence in Taiwan, Uber is best positioned to leverage the significant local operations developed by Delivery Hero and foodpanda in recent years and further invest in an improved experience for consumers, merchants and delivery partners,” the statement said. , adding that, once completed, it will be “one of the largest international acquisitions ever made in Taiwan.”

In statements to the state news agency CNA, the vice president of the Taiwan Fair Trade Commission, Chen Chih-min, assured that, due to the high market shares and turnover figures of Uber Eats and foodpanda, it is a “horizontal merger”, so it must be studied in detail to avoid “market abuses”.

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“Due to the lack of competitive pressure, the quality of service may be reduced and unfair competition may be imposed on restaurants or consumers,” said Chen, who did not rule out holding public hearings or symposiums regarding this acquisition.

 
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