Uber Technologies, Inc. has increased its ownership of German food‑delivery platform Delivery Hero by acquiring an additional 13.6 million shares from Prosus at €20 per share, a transaction that values the stake at roughly €270 million. The purchase lifts Uber’s shareholding to about 7 % of Delivery Hero’s outstanding equity.
The deal follows Uber’s first investment in Delivery Hero in 2024, when the company bought a 3 % position for $300 million in newly issued shares. Uber also previously attempted to acquire Delivery Hero’s Foodpanda business in Taiwan in 2025, a bid that was blocked by Taiwanese regulators. The current transaction is therefore part of a longer‑term strategic relationship between the two firms.
Strategically, the investment gives Uber a foothold in a leading European delivery platform without the cost and complexity of a full acquisition. Uber has announced plans to launch food‑delivery services in seven new European markets in 2026, targeting an additional $1 billion in gross bookings over the next three years. The stake is described by Uber as “opportunistic,” and it aligns with the company’s broader effort to strengthen its position in a consolidating European market dominated by players such as Just Eat Takeaway and Wolt.
Prosus is selling the shares to comply with conditions imposed by the European Commission for its acquisition of Just Eat Takeaway. The Commission required Prosus to reduce its stake in Delivery Hero from 26.3 % to 21.8 % to address competition concerns, and the sale to Uber is a step toward that goal. Prosus aims to bring its ownership down to single digits while maximizing shareholder value.
Niklas Östberg, CEO of Delivery Hero, said the investment was a "meaningful endorsement" of the company’s platform and long‑term strategy. Analysts at Jefferies expressed surprise and confusion over the timing and price, describing the move as “baffled.” Barclays noted the special constellation created by Prosus’s regulatory‑driven divestiture and Uber’s opportunistic purchase.
The transaction underscores Uber’s intent to deepen its presence in Europe while respecting regulatory constraints. By holding a minority stake in a leading delivery platform, Uber gains exposure to Delivery Hero’s network and customer base, potentially creating synergies as it expands into new markets. The deal also signals to investors that Uber remains committed to pursuing strategic investments that complement its core ride‑hailing and delivery businesses.
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