Uber Acquires Additional 4.5% Delivery Hero Stake for €270M
Uber agreed to acquire an additional 4.5% stake in Delivery Hero for approximately €270 million, purchasing 13.6 million shares at €20 each from Prosus. This raises Uber's total holding to about 7% and bolsters its European food delivery push after DoorDash's £2.9 billion Deliveroo takeover.
1. Deal Terms
Uber agreed to purchase 13.6 million Delivery Hero shares at €20 each from Prosus, investing approximately €270 million to increase its stake by 4.5% and raise its total holding to around 7%.
2. Prosus Regulatory Driver
Prosus sold 13.6 million shares at €20 apiece, cutting its Delivery Hero stake from about 26.3% to 21.8% to satisfy regulator conditions linked to its €4.1 billion acquisition of Just Eat Takeaway, with a disposal deadline of August 2026.
3. Uber's European Delivery Strategy
The €270 million investment builds on Uber’s initial May 2024 stake and aligns with its rapid expansion into seven new European markets as it intensifies focus on food delivery services across the region.
4. Competitive Market Dynamics
Delivery Hero’s shares have slumped over 80% from their 2021 peak, valuing the company near €6 billion, while DoorDash’s £2.9 billion purchase of Deliveroo last year highlights growing competition in Europe’s delivery sector.