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Uber Announces $14.8 Billion Acquisition of Delivery Hero

Published July 16, 2026 at 8:04 PM UTC

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Uber Technologies has officially entered into a business combination agreement to acquire German delivery giant Delivery Hero for $14.8 billion. The deal, announced on July 16, 2026, represents a significant expansion of Uber's global footprint, bringing its total market presence to 99 countries. Under the terms of the agreement, Uber is offering shareholders 41.50 euros per share in cash. The transaction is expected to be completed in the second half of next year, pending regulatory approvals and a minimum acceptance threshold of 50% plus one share of Delivery Hero's outstanding stock.

To address potential antitrust concerns regarding overlapping operations, Delivery Hero has agreed to sell its business in 14 specific markets to New York-based investment firm SSW Partners for approximately 1.4 billion euros. These divestitures include operations in several European countries where both companies currently compete. By hiving off these assets, Uber aims to streamline the regulatory review process while focusing on integrating Delivery Hero's strong local brands, such as Foodpanda in Asia, Glovo in Europe and Africa, and Talabat in the Middle East.

Uber CEO Dara Khosrowshahi stated that the acquisition will allow the company to offer mobility and delivery services in 58 markets, up from 34. This dual-service model is central to Uber's strategy, as it typically drives higher engagement through the Uber One membership program. The combined entity generated pro-forma gross bookings of $236 billion last year, positioning it as the largest food-delivery group outside of China.

Major shareholders, including Prosus, have already committed to tendering their shares, providing strong momentum for the deal. While the acquisition is expected to be accretive to Uber's non-GAAP earnings per share within three years, it remains subject to a complex regulatory landscape. The company plans to fund the acquisition through a combination of existing cash and new debt, having already secured a 14 billion-euro bridge loan to facilitate the transaction.