Uber Technology announced on Tuesdayabugarciablackmax3bmax3, will spend 9abugarciablackmax3bmax3.500 million US dollars to acquire Delivery Hero's Foodpanda business in China Taiwan.
Uber said it plans to complete the all-cash transaction in the first half of 2025. The deal is one of the largest acquisitions in Taiwan outside the chip industry and marks the retreat of Delivery Hero from Asia. Both sides stressed that the acquisition is subject to regulatory approval-a potential problem given that Uber and Delivery Hero are currently the two dominant companies in the market.