Uber explores asset sales to win approval for Delivery Hero bid

Uber Explores Asset Sales to Clear Path for Delivery Hero Takeover

Uber Technologies has begun approaching potential buyers for Delivery Hero regional operations in Latin America, Asia, and Europe as it works toward regulatory approval for a full takeover of the German food delivery company, Bloomberg reported on Thursday.bloomberglaw

The move marks the latest step in a months-long campaign by the San Francisco-based ride-hailing giant to gain control of the Berlin-based delivery platform, which operates in roughly 65 countries across multiple continents.thetimes

Building a Majority Position

Uber’s stake-building in Delivery Hero accelerated rapidly this spring. In April, it acquired a 4.5% block from Prosus for approximately €270 million, part of an EU-mandated sell-down tied to Prosus’s 2025 acquisition of Just Eat Takeaway.com. By mid-May, Uber had raised its holding to about 19.5%, becoming the largest shareholder. A week later, a regulatory filing showed its total position — including shares held through financial contracts — had reached roughly 36.8% of voting rights.wsj

On May 23, Delivery Hero confirmed it had received an indicative takeover proposal from Uber at €33 per share, valuing the company at approximately €10 billion. Delivery Hero said at the time it remained “fully committed to executing its strategic review process” without endorsing the offer. The Financial Times reported that several investors were seeking a price above €40 per share.cnbc

Regulatory and Competitive Hurdles

By sounding out buyers for overlapping regional assets now, Uber appears to be getting ahead of antitrust concerns before filing for formal regulatory review. The company and Delivery Hero both operate food delivery services across parts of Asia, Latin America, and Europe, raising the prospect of competition authority objections in multiple jurisdictions.bloomberg

The deal landscape is further complicated by Prosus, which still holds a roughly 16.8% stake in Delivery Hero. Reuters reported on June 1 that Prosus was considering raising its stake to block an Uber takeover, citing the Financial Times. Meanwhile, the European Commission extended a deadline for Prosus to complete its own mandated sell-down of Delivery Hero shares to October 11.reuters

DoorDash has also circled the situation, holding exploratory talks with Delivery Hero investors and expressing interest in the company’s Middle Eastern operations, including Talabat, though it has not made a formal bid. No final decisions on asset disposals or a completed buyout have been confirmed, and any deal would still face regulatory scrutiny across multiple jurisdictions.yahoo