# Uber to purchase Foodpanda's Taiwan business for $950 million.

> Uber Technologies is set to acquire Foodpanda's Taiwan operations for $950 million in cash, as Delivery Hero shifts focus. Concurrently, Delivery Hero will issue $300 million in shares to Uber. Delivery Hero's CEO cites…

Published: 2024-06-25 · Desk: Finance · Source: CNBC

Uber Technologies is set to acquire Foodpanda's Taiwan operations for $950 million in cash, as Delivery Hero shifts focus. Concurrently, Delivery Hero will issue $300 million in shares to Uber. Delivery Hero's CEO cites a need to prioritize other markets. Uber sees potential for growth in Taiwan's competitive food delivery sector. Foodpanda, acquired by Delivery Hero in 2016, operates across Asia. Taiwan's market is shared by Foodpanda and Uber Eats. The deal, pending regulatory approval, marks a significant international acquisition in Taiwan's non-semiconductor sector.

Original reporting: https://www.cnbc.com/2024/05/14/uber-to-acquire-foodpandas-taiwan-business-for-950-million-creating-a-potential-monopoly-.html
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