Uber secures 66 percent stake in Delivery Hero

Uber has secured a 66.56 percent stake in the Berlin-based food delivery platform Delivery Hero following the conclusion of an offer period. The acquisition, valued at approximately 13 billion euros, is intended to expand Uber Eats' global footprint across Europe, the Middle East, and Asia, potentially doubling its market reach.

To address potential antitrust and competition concerns, Delivery Hero will divest its operations in 14 countries, including Foodora in Austria, to the US investment firm SSW Partners for 1.4 billion euros. Uber will reportedly lend the funds for this divestment to SSW Partners.

As part of the agreement, Uber intends to maintain Delivery Hero’s headquarters in Berlin until at least 2029, stabilize the existing workforce, and invest up to 2 billion euros in Germany. In Austria, Foodora currently faces separate investigations by the Federal Competition Authority (BWB) regarding suspected abuse of its dominant market position.