Germany's Delivery Hero agrees 12.7-bn-euro takeover by Uber / Photo: John MACDOUGALL - AFP
-
Kenya's economy faces climate change risks: World Bank
-
US unveils 25% tariff on certain goods from Brazil, drawing rebuke
-
Hazardous wildfire smoke chokes millions in US, Canada
-
New science report could boost climate suits against oil giants
-
Devastating Asian beetle detected in EU for first time
-
Farnborough to survey the state of Boeing's comeback
-
Young British hackers jailed for London transport cyberattack
-
EU tells Google to share search data, open Android to AI rivals
-
Uber to gobble up Delivery Hero in latest food delivery deal
-
US still world's biggest air transport market, but growth slows: data
-
Climate change, urban growth fuel Lagos flooding
-
Algae fed by farm waste carpet Italy's warm River Po
-
UK launches hi-tech mission to study Greenland ice melt
-
Germany's Delivery Hero agrees 12.7-bn-euro takeover by Uber
-
US unveils new 25% tariff on certain imports from Brazil
-
Climate change, mismanagement dry up beloved Hungarian lake
-
Taiwan chipmaker TSMC reports record quarterly profit
-
'No rest': Indonesians overworked and abused on foreign fishing vessels
-
Asian stocks mostly sink as AI worries hammer tech
-
Tractors out, oxen in for fuel-starved Cuban farms
-
Amazon defender Raoni leaves hospital a month after surgery
-
Amazon to launch S.Africa satellite internet as Starlink awaits licence
-
OpenAI fails to trademark name in EU
-
Toronto air ranked among world's worst as wildfire smoke moves south
-
Canada central bank holds key rate steady, says economy improving
-
Trump tells immigration agents to resume traffic stops despite killings
-
Orban's ex-FM quits Hungary parliament for China's BYD
-
German leader not opposed to Chinese taking over car plants
-
Trump tells immigration agents to keep traffic stops despite killings
-
Germany's BASF lifts forecasts but Mideast war casts shadow
-
Generative AI's power sparks fears of dumbing humans down
-
'Like my lover': Chinese users bid farewell to AI companions
-
'We don't have time': Montenegro's bird haven fading
-
Aussie Rules removes Indigenous figure from Hall of Fame
-
Dutch tech giant ASML posts gain in second-quarter profits
-
Australian PM says to enact laws to govern AI
-
China's economic growth hits slowest pace in more than three years
-
Writers union sues to block US Paramount deal
-
Duped or spun with juju: how sex trade trafficks Nigerian women
-
UK announces social media curfew for older teens
-
Gibraltar and Spain end border checks
-
UK climate now hotter, sunnier: weather agency
-
IBM shares plunge 25% as AI spending boom disrupts business
-
Nasdaq rebounds as cooling US inflation weighs on dollar
-
Record-smashing heat wave surges from West to eastern US, Canada
-
NY state pauses new large data center projects in US first
-
IBM shares plunge as AI spending boom disrupts business
-
Cuba faces third nationwide blackout in less than 10 days
-
Trump backtracks on plan to toll Hormuz ships
-
'Gus' the T. rex fetches record $50.1 mn at US auction
Germany's Delivery Hero agrees 12.7-bn-euro takeover by Uber
German food delivery group Delivery Hero said Thursday it has agreed to be taken over by US ride-hailing giant Uber in a 12.7-billion-euro ($14.6-billion) deal.
Founded in 2011, the German firm now operates in over 60 markets and is one of the world's biggest food delivery groups.
It has also expanded beyond its traditional food business to "quick commerce", delivering small packages to customers.
Uber is offering 41.50 euros per share for Delivery Hero, valuing the deal at 12.7 billion euros.
Delivery Hero's shares were down 0.5 percent in Frankfurt after the announcement, trading at 37.9 euros.
"Uber's global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero's strengths in local food delivery and quick commerce," said Niklas Oestberg, CEO and co-founder of Delivery Hero.
Uber CEO Dara Khosrowshahi said a merger would "extend affordable, reliable delivery to many millions more people in some of the world's most dynamic economies, while creating more opportunities for merchants and couriers".
Uber is acquiring Delivery Hero's businesses in 50 markets worldwide across Asia, Europe, Latin America and the Middle East.
A US investment firm, SSW Partners, is acquiring the German group's operations in another 14 markets, where Uber and Delivery Hero compete, for around 1.4 billion euros.
Delivery Hero said its management recommends that shareholders accept the deal, and it is expected to be finalised in the second half of 2027.
A.Leibowitz--CPN