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Acquisition advances the US ride-hailing firm’s efforts to build a global food-delivery business
BERLIN:
Uber agreed on Thursday to buy Germany’s Delivery Hero at an equity value of $14.8 billion to create the largest food-delivery group outside China and stave off intensifying competition from US and European rivals.
The acquisition advances the US ride-hailing firm’s efforts to build a global food-delivery business that can better compete with Just Eat, owned by Dutch group Prosus and US rival DoorDash, which has been expanding aggressively.
It is likely to face a complex regulatory process as the combination would create a platform spanning 99 countries.