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Uber to Acquire Delivery Hero for $14.8B, Reach 100 Markets

7/17/2026

Summary

Uber Acquires DeliveryHero

Uber Inc. agreed to buy Delivery Hero in an all-stock deal worth $14.8 billion.
The acquisition would expand Uber’s delivery network to 100 markets in Europe, the Middle East, Latin America and Asia.
Delivery Hero will sell its 14 markets to SSW Partners for $1.6 billion.
The deal, which includes Prosus selling its 17 percent stake to Uber, needs acceptance of more than 50 percent plus one share and regulatory clearance in several countries.

Summary

Uber Faces Scrutiny

Regulators will scrutinize labor practices and data-protection safeguards in the Uber-Delivery Hero merger.
SSW Partners, founded by Antonio Weiss, Joshua Steiner and Eric Schwartz, will operate the 14 divested markets.
Uber pledged to keep Delivery Hero’s Berlin headquarters and workforce through 2029 and to invest €2 billion in Germany by 2031.
The deal follows activist Aspex Management’s pressure and includes carve-outs in Austria, Norway, Spain and Sweden to ease competition concerns.

Summary

Uber Funds Acquisition

Uber will fund the $14.8 billion acquisition with cash and a €14 billion bridge facility, keep leverage below 2 times, and expects the deal to be accretive to Non-GAAP EPS with single-digit growth by year three.
Morgan Stanley and Deutsche Bank advisory, with Bank of America, Goldman Sachs and Evercore advising.
Uber has agreed not to enter a Domination and Profit Transfer Agreement for three years.
The deal targets a second-half-2027 closing pending merger-control clearance.

Summary

Uber Sparks Scrutiny

Uber's $14.8 bn purchase intensifies pressure on gig-workers’ pay and conditions.
European regulators are scrutinizing gig-workers’ treatment, adding complexity to the antitrust review of Uber’s acquisition of Delivery Hero.
In Turkey, the deal transfers Yemeksepeti to SSW Partners while Uber holds stakes in Trendyol Go and has approval to acquire Getir’s delivery arm, reshaping the local gig-economy.

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Uber Acquires DeliveryHero

Uber Inc. agreed to buy Delivery Hero in an all-stock deal worth $14.8 billion.
The acquisition would expand Uber’s delivery network to 100 markets in Europe, the Middle East, Latin America and Asia.
Delivery Hero will sell its 14 markets to SSW Partners for $1.6 billion.
The deal, which includes Prosus selling its 17 percent stake to Uber, needs acceptance of more than 50 percent plus one share and regulatory clearance in several countries.

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