TAIPEI: Ride-hailing giant Uber said on Tuesday (May 14) it has reached a deal with Delivery Hero SE to buy its Foodpanda delivery business in Taiwan for US$950 million.
The US giant aims to complete the all-cash acquisition of Foodpanda Taiwan by the first half of 2025, it said in a statement.
The deal, subject to regulatory approval, would be one of the largest ever international purchases in Taiwan outside of the semiconductor sector, San Francisco-based Uber said.
“Taiwan is a fiercely competitive market, where online food delivery platforms today still represent just a small part of the food delivery landscape,” said Pierre-Dimitri Gore-Coty, senior vice president of delivery at Uber.
“We’re so excited about the opportunity to deliver even greater convenience and value that this transaction would unlock in the years ahead.”
Uber described the deal as “a vote of confidence” in the island’s long-term appeal to international businesses and investors.
