In a landmark transaction that will form the largest food-delivery group outside China, Delivery Hero has agreed to a public takeover by, and a business combination with, Uber Technologies for an equity value of €13 billion.
Delivery Hero is the world’s leading local delivery platform, operating in 65 countries across Asia, Europe, Latin America, the Middle East and Africa.
The planned transaction brings together Uber’s global technology platform and mobility network with Delivery Hero’s leading local delivery brands, deep vendor relationships and its fast-growing quick commerce capabilities, extending the combined group to a total of 99 countries. The combination is designed to accelerate innovation and to expand the range, value and convenience of services for customers, vendors and riders.
In parallel, Delivery Hero has entered into a separate agreement with SSW Partners, a New York-based private investment firm, which has agreed to acquire Delivery Hero’s operations in 14 markets in which Uber Eats and Delivery Hero compete, for €1.4 billion, conditioned on completion of the offer between Uber and Delivery Hero.
The cross-border S&C team advising long-standing client Delivery Hero is led by Carsten Berrar, Florian Späth and Lars Rueve, and includes Daniel Kornack, Jannis Rink, Shajan Kreuter, Jan Lukas Werner and Chiara Bechtler. Rachel Yu and Elizabeth Levin are advising on IP matters. Jeannette Bander and Rebecca Rabinowitz are advising on executive compensation matters. Tessa Lee is advising on tax matters. Michael Rosenthal, Kolja Ortmann and Sebastian Kerdar are advising on antitrust matters.