The Berlin based food delivery service Delivery Hero has found a buyer for its Foodpanda business in Taiwan, giving it some financial breathing space.
The US ride-hailing and delivery service Uber wants to acquire the business for $950 million, Delivery Hero announced in Berlin on Tuesday. The sale is to be finalised in the first half of next year.
The US group will also acquire a stake of just under 3% in the MDax-listed company. To this end, around 8.4 million new shares are to be sold to Uber for €33 each ($35.50) via a capital increase. The heavily indebted German company will thus receive €278 million.