Uber to buy Delivery Hero’s Foodpanda in Taiwan for US$950 million

TAIPEI: Walk-hailing broad Uber mentioned on Tuesday (May perhaps perhaps just 14) it has reached a style out Offer Hero SE to purchase its Foodpanda supply exchange in Taiwan for US$950 million.

The US broad targets to total the all-cash acquisition of Foodpanda Taiwan by the first half of 2025, it mentioned in an announcement.

The deal, subject to regulatory approval, would be one in every of the ideal ever global purchases in Taiwan exterior of the semiconductor sector, San Francisco-based mostly mostly Uber mentioned.

“Taiwan is a fiercely aggressive market, the build online food supply platforms as of late calm represent factual a shrimp half of the food supply landscape,” mentioned Pierre-Dimitri Gore-Coty, senior vice president of supply at Uber.

“We’re so hooked in to the quite quite a lot of to bring even bigger comfort and price that this transaction would release in the years forward.”

Uber described the deal as “a vote of confidence” in the island’s long-term entice global corporations and investors.