Uber bids $14.8B for Germany's Delivery Hero

US ride-hailing and delivery company Uber announced Thursday a cash offer to acquire German food delivery platform Delivery Hero in a deal valuing the company at $14.8 billion.

Uber is offering €41.50 ($47.60) per share, valuing the transaction at $13.7 billion after accounting for its previous stake purchases.

The acquisition would expand Uber's mobility and delivery operations to 99 markets, with combined pro forma gross bookings of $236 billion in 2025.

Uber would acquire Delivery Hero businesses in 50 markets that generated $42 billion in gross bookings last year, including South Korea's Baedal Minjok, Saudi Arabia's HungerStation, Talabat, PedidosYa and several Glovo operations.

Separately, Delivery Hero agreed to sell businesses in 14 markets to New York-based SSW Partners for about $1.6 billion.

The divestments include Türkiye's Yemeksepeti, Foodora operations in Austria, Czechia, Norway and Sweden, Greece's efood, Cyprus' Foody and several Glovo and PedidosYa businesses.

Uber said the acquisition would nearly double the number of markets where it offers both mobility and delivery services, from 34 to 58.

Delivery Hero's management and supervisory boards unanimously backed the offer and intend to recommend it to shareholders.

Prosus, which owns about 17% of Delivery Hero, has agreed to tender its shares, giving Uber an economic interest of about 53%.

The offer is subject to a minimum acceptance threshold of 50% plus one share and regulatory approval.

Uber said it will finance the acquisition through existing cash and new debt backed by a committed bridge facility of about €14 billion.

The company also pledged to retain Delivery Hero's Berlin headquarters and workforce through at least 2029 and invest €2 billion in Germany over the next five years.

The transaction is expected to close in the second half of 2027.