Uber deepens Delivery Hero stake in €270M deal

Last week, Uber agreed to pay €270 million, or about $318 million, to acquire another 4.5% stake in Delivery Hero, a Berlin-based food delivery company, reports CNBC.

Prosus, the largest shareholder in Delivery Hero, sold the shares after European regulators informed it to reduce its holdings. Uber had already invested $300 million in 2024, and this deal increases its stake.

Last year, Prosus agreed to purchase Just Eat Takeaway for 4.1 billion euros, a shift that further consolidated Europe’s delivery market. The European Commission approved the deal on the condition that Prosus reduce its stake in Delivery Hero to avoid excessive market concentration.

Becautilize Prosus had to sell, Uber saw an opportunity. Prosus has lowered its stake from about 27% to around 21%, and more sales are expected. Uber now owns about 7% of Delivery Hero.

Uber paid €20 per share, just below Delivery Hero’s closing price on Thursday but 22% above its one-month average. After the news, Delivery Hero’s shares went up by 8.5%.

CEO Niklas Östberg, who co-founded Delivery Hero in Berlin in 2011 and grew it to more than 70 countries, stated he welcomed the investment as support for his strategy. Uber is gaining more options in a market that is quickly consolidating: DoorDash bought Deliveroo last year, and Prosus is merging with Just Eat.

As the European food delivery market modifys, Uber’s 7% stake in Delivery Hero gives it more influence.

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