-- Uber Technologies Inc. is buying Delivery Hero SE’s Foodpanda business in Taiwan for $950 million, shoring up its control of a key Asian market as it seeks to expand in the region.China to Start $138 Billion Bond Sale on Friday to Boost Economy
Uber Eats has grown in major international delivery markets including Australia, France and Mexico, while adding new retail and grocery partners to its platform. A nascent but growing advertising business has also helped expand margins for the delivery business.The deal unveiled Tuesday marks one of the biggest takeovers in Taiwan outside of semiconductors.
Its parent has sought buyers for Foodpanda businesses beyond Taiwan, with less success. In February, the German company said negotiations to sell some of its operations in Southeast Asia had fallen through. On Tuesday, Delivery Hero said it hoped to use the proceeds from the deal to buy back convertible bonds.
The stock market is about to see a 10% correction, with further disinflation a 'pipe dream' and Fed rate cuts coming much later, Stifel says
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