TAIPEI: Ride-hailing giant Uber said on Tuesday (May 14) it has reached a deal with Delivery Hero SE to buy its Foodpanda delivery business in Taiwan for US$950 million. The US giant aims to complete the all-cash acquisition of Foodpanda Taiwan by the first half of 2025, it said in a statement.
The Uber logo is shown on the building in Los Angeles, California, US on Feb 14, 2024. TAIPEI: Ride-hailing giant Uber said on Tuesday it has reached a deal with Delivery Hero SE to buy its Foodpanda delivery business in Taiwan for US$950 million.
The deal, subject to regulatory approval, would be one of the largest ever international purchases in Taiwan outside of the semiconductor sector, San Francisco-based Uber said. "We're so excited about the opportunity to deliver even greater convenience and value that this transaction would unlock in the years ahead."Uber last year reported a forecast-beating 17 per cent increase in sales to US$37.3 billion, thanks to the growing popularity of its food delivery services.
Niklas Ostberg, Delivery Hero's CEO and co-founder, said the company had decided to concentrate its resources on other markets where it"can have the largest impact for customers, vendors and riders".
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