Germany’s Delivery Hero backs €13 billion takeover by Uber

Delivery Hero said Thursday it backs the takeover offer from US ride-hailing giant Uber, which aims to acquire the German food delivery group, which operates in more than 50 markets across Asia, Europe, Latin America and the Middle East. The deal gives Uber a much stronger foothold across Asia, the Middle East, Latin America and parts of Europe, including major markets such as South Korea, Italy, Saudi Arabia, the United Arab Emirates and Argentina. Uber has agreed to offer €41.50 a share in cash for all Delivery Hero shares, valuing the German food delivery company at €13 billion ($14.8 billion). After accounting for Uber's previously acquired stake, the transaction is worth about $13.7 billion (€12 billion), according to the company. Berlin-based Delivery Hero was founded in 2011. The German firm now operates in more than 60 markets and is one of the world's biggest food delivery groups. It has also expanded beyond its traditional food business into "quick commerce", delivering small packages to customers. The deal would expand Uber's mobility and food delivery operations to 99 countries. Together, Uber and Delivery Hero generated gross bookings worth $236bn (€205.9bn) in 2025, measured by gross merchandise value (GMV). Uber said the takeover would create what it described as the world's largest mobility and delivery platform. Dara Khosrowshahi, CEO of Uber, said: “By bringing our platforms together, Uber will 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'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 expects the acquisition to increase its adjusted earnings per share once the deal closes, with a high single-digit percentage boost by the third year. Delivery Hero's shares were down 0.5% in Frankfurt after the announcement, trading at €37.90 by early afternoon. Uber agreed not to make changes to Delivery Hero’s workforce in Berlin until at least 2029. Additionally, Uber committed to invest €2 billion in Germany through 2031, with a focus on developing its local corporate workforce, growing its nationwide business, and launching autonomous vehicle deployments and partnerships with the German automotive industry. Separately, Delivery Hero has agreed to sell its businesses in 14 markets where it competes with Uber Eats to New York-based investment firm SSW Partners for around €1.4 billion. The sale is conditional on Uber's takeover being completed and other customary closing conditions being met. However, the takeover will only proceed if Uber secures at least 50% plus one share of Delivery Hero's outstanding share capital, including shares it already owns, and obtains the necessary regulatory approvals. Prosus, Delivery Hero's largest shareholder, has irrevocably committed to tender its shares, which would give Uber an economic interest of about 53% in the company. Delivery Hero's management and supervisory boards said they intend to recommend that shareholders accept the offer, subject to reviewing the formal offer document, and the deal is expected to be finalised in the second half of 2027.