, Taiwan
Photo from Unsplash by Hannah Sibayan.

Uber enters $1.25b deal with Delivery Hero for Taiwan business

The ride-hailing giant also plans to purchase new shares from Delivery Hero.

US ride-hailing giant Uber has announced plans to acquire Delivery Hero’s foodpanda delivery business in Taiwan for $950m and to purchase new shares from the latter worth $300m for a total of $1.25b, subject to regulatory approval and other customary closing conditions.

Uber said ‘it is best placed to build upon the significant local operations developed by Delivery Hero and foodpanda over the past years, and invest further into an improved experience for consumers, merchants, and delivery partners.’

Until closing, Delivery Hero is dedicated to continue operating foodpanda Taiwan as before. In the period following closing, foodpanda’s local consumers, merchants, and delivery partners will be transitioned to Uber Eats.

Once completed, this deal would be one of the largest ever international acquisitions in Taiwan, outside of the semiconductor industry. Uber’s decision to commit to this considerable increase in its Taiwan investment is a concrete vote of confidence in the continued long-term attractiveness of Taiwan for international companies and investors.

ALSO READ: foodpanda parent denies reports of SEA business sale talks have soured

Last year, Delivery Hero announced that it is selling its food delivery arm foodpanda in selected markets in Southeast Asia.

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