Uber to acquire Foodpanda's Taiwan business for $950 million, creating a potential monopoly
Publishing timestamp: 2024-05-14 02:00:44
Summary
Uber Technologies to acquire Taiwan business of Delivery Hero-owned Foodpanda for $950 million in cash, as Foodpanda focuses on other markets. The deal is expected to close in the first half of 2025, subject to regulatory approval. Delivery Hero will also sell $300 million in newly issued ordinary shares to Uber. Taiwan's food delivery market is dominated by Foodpanda and Uber Eats.
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Keywords: delivery hero se, business news, uber technologies inc, asia economy, technology, breaking news: technology, food and drink,