Uber Stock Eyes Full Delivery Hero Takeover With Asset Sales

TLDR

• Uber has contacted potential buyers for Delivery Hero’s regional operations in Latin America, Asia, and Europe.
• The asset sale discussions are aimed at securing regulatory approval for a full Delivery Hero takeover.
• Uber has already built its stake in Delivery Hero to approximately 36.8%, including instruments.
• A full acquisition would need regulatory clearance across multiple jurisdictions.
• The outreach is designed to address potential antitrust concerns ahead of any formal deal.

Uber Technologies is working to clear the path for a full takeover of Delivery Hero, and it’s willing to sell off parts of the business to get there.

Uber Technologies, Inc., UBER

According to a Bloomberg report citing people familiar with the matter, Uber has reached out to potential buyers for certain Delivery Hero regional operations. The targets are businesses in markets where the two companies overlap — specifically in Latin America, Asia, and Europe.

UBER stock was down 1.56% at the time of writing. Delivery Hero (DHER) was up 0.29%.

The move signals that Uber is serious about converting its growing financial stake into full ownership. Uber has built its position in Delivery Hero to around 36.8%, including financial instruments, over recent months.

Clearing the Regulatory Hurdle

Any full acquisition of Delivery Hero would require sign-off from regulators in multiple jurisdictions. That’s no small task for a deal of this size, spanning three continents.

By proactively finding buyers for overlapping regional units, Uber appears to be getting ahead of expected antitrust scrutiny. It’s a familiar playbook — carve out the parts that raise flags before regulators ask you to.

The discussions are described as exploratory at this stage. No formal deal for Delivery Hero’s regional assets has been announced.

Delivery Hero is one of the largest food delivery operators outside the United States, with businesses running under brands across Europe, Asia, and Latin America.

What’s on the Table

The asset discussions cover markets where both Uber Eats and Delivery Hero subsidiaries operate. Selling those units to a third party would reduce competitive overlap, a key concern for regulators evaluating any merger.

It’s not yet clear which specific regional brands or markets are being discussed, or who the potential buyers are. Bloomberg’s sources did not identify the parties involved.

Uber’s stake-building in Delivery Hero began gaining attention earlier this year. Reaching 36.8% puts Uber in a position where a full bid is a logical next step — but only if the regulatory groundwork is laid first.

The outreach to buyers suggests Uber is actively doing that groundwork now.

Delivery Hero has operations in dozens of markets through brands including foodpanda in Asia and Talabat in the Middle East, though the Bloomberg report focused specifically on Latin America, Asia, and Europe as the areas of concern for Uber’s outreach.

No comment from Uber or Delivery Hero has been reported in response to the Bloomberg story at the time of publication.

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