The board of directors of the German food delivery service Delivery Hero SE has approved a proposal to merge with Uber Technologies Inc. for $14.8 billion. This is reported in the Delivery Hero press release.
From the point of view of Delivery Hero management, the transaction meets the interests of shareholders and corresponds to the real value of the company. The deadline for accepting the offer expires on November 5th.
Currently, Uber directly owns 24.77% of Delivery Hero shares and 11.74% through derivatives. In addition, Prosus NV investment company, which owns 17% of the shares, agreed to sell its stake as part of the deal.
Upon completion of the deal, Uber will retain Delivery Hero's headquarters in Berlin and manage Delivery Hero's assets in 50 countries. At the same time, assets in 14 countries, including Austria, Greece, Spain, Norway, Poland, Portugal and Sweden, will be sold to SSW Partners investment company for $1.6 billion. In addition, Uber will invest 2 billion euros in the German economy over five years.
Uber has engaged Morgan Stanley as an advisor on a deal aimed at expanding Uber's presence in emerging markets and strengthening its global position. The presence of Delivery Hero in more than 60 countries will help expand Uber's presence in European markets, where it is inferior to the DoorDash Wolt division.
Uber Technologies Inc. is an American multinational company headquartered in San Francisco, California. The company has developed a mobile application for searching, calling and paying for taxis or private drivers, as well as for food delivery.
Delivery Hero SE is a German multinational company in the field of online food delivery. The headquarters is located in Berlin (Germany) with offices in 60 countries.
Read our Telegram channel "Mergers and acquisitions. AK&M».
Our channel at MAX is "Mergers and Acquisitions. AK&M».
