Uber ends the acquisition of FoodPanda Taiwan, citing organizational obstacles
Uber Technologies has completed its acquisition of FoodPanda’s Foodpanda in Taiwan, Germany -based technology company He said on Tuesday.
This announcement comes about three months after Taiwan Anti -monopoly organizer The deal was prevented, citing Competitive issues. If Uber acquires Foodpanda, its market share in Taiwan will increase to 90 %, which may lead to increased prices by Uber.
Eat Uber and Foodpanda The best players In the food delivery market in Taiwan. In a recent report, it was found That Foodpanda has 52 % of the market share from January 2022 to August 2023, while Uber Ets had 48 %. Food delivery companies such as Foodomo and many other fast food delivery applications are a small percentage of their market share in Taiwan, relatively.
Under the agreement signed on May 14, 2024, Uber must pay an expiry fee of about $ 250 million.
Uber and Delivery Hero did not immediately respond to the Techcrunch request for comment.
When Uber Declare The Taiwan section of Foodpanda will buy the delivery champion, is expected to complete the deal in the first half of 2025. This step is in line with Uber’s plan to eat to grow in Asia, especially by enhancing its presence in Taiwan. The two companies also participated in a separate deal in which Uber agreed to purchase $ 300 million in newly released ordinary shares.
The deal also highlighted the continuous withdrawal of the delivery hero from the same market. At that time, Delivery Hero was trying to sell a group of other operations in Southeast Asia – including in Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines, and Thailand – to an unknown third party. In September 2023, it is End these discussionsIn a statement, “The decision to end the negotiations after months of discussions was taken carefully after looking.”
The Delivery Hero Food Delivery Department is competing with GRA, in Southeast Asia.
In September, its FoodPanda unit I organized lay off It aims to simplify operations before a possible sale. The discounts followed the demobilization of workers in 2022 and 2023.
