The deal will see foodpanda being folded into the Uber Eats platform, and is subject to regulatory approval. Uber said it expects the deal to close in the first half of 2025, until which Delivery Hero will continue operating foodpanda.
Tuesday's deal comes after reports earlier this year said the two companies had stopped negotiations over the sale of Delivery Hero's Asian operations. It was not immediately clear whether the sale included foodpanda's operations in Southeast Asia. The deal also gives Uber more headway in the food delivery business, particularly in Asia, where Uber Eats faces stiff competition from local players.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.