Ride-hailing giant Uber said Tuesday it has reached a deal with Delivery Hero SE to buy its Foodpanda delivery business in Taiwan for US$950 million. The companies have also reached a separate agreement for Uber to buy US$300 million in newly issued ordinary shares of Delivery Hero, according to the statement.
In Taiwan, UberEats andFoodpanda have been in close competition in the island's food delivery market for years. Photo: Sam Yeh / AFPThe US giant aims to complete the all-cash acquisition of Foodpanda Taiwan by the first half of 2025, it said in a statement.
"We're so excited about the opportunity to deliver even greater convenience and value that this transaction would unlock in the years ahead."Click “See First” under the “Following” tab to see Briefly News on your News Feed! In Taiwan, UberEats -- the ride-hailing company's food delivery arm -- and Foodpanda have been in close competition in the island's market for years.
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