Uber Spends $1.8 Billion to Become Delivery Hero’s Biggest Shareholder
Uber is making its European ambitions unmistakably clear. The ride-hailing and delivery giant lifted its stake in Germany-based food delivery firm Delivery Hero to 19.5%, with options to go further to 25%, in a move that signals it may be contemplating a deeper expansion across Europe. The total investment cost Uber approximately $1.8 billion.
The Uber stake in Delivery Hero now makes it the company’s single largest shareholder. The latest buy-in placed Uber at the top, overtaking Prosus’s previous 16.8% holding. Uber acquired approximately 4.5% of Delivery Hero’s issued capital directly from Prosus. The move comes on top of an earlier position. Delivery Hero confirmed its rival had raised its holding from roughly 7% to the current 19.5%, with Uber’s stake worth around 1.7 billion euros based on Reuters calculations.
A Blocking Minority With Room to Grow
The structure of the deal gives Uber significant leverage without triggering a full takeover obligation and also holds options for a further 5.6% of shares, which could give it a blocking minority, while stating in a regulatory filing that it does not currently intend to increase its stake to 30% a threshold that would trigger a mandatory offer to remaining shareholders.
The transaction comes during leadership changes at Delivery Hero and ongoing consolidation in the global food delivery sector, with Uber’s increased stake signalling a clearer intent to build influence in European food delivery rather than participate only as a minority financial investor.
For Delivery Hero, the vote of confidence lands at a critical moment. The company welcomed Uber’s additional investment as a further endorsement of its platform and Everyday App strategy. For Uber, it cements delivery as a core pillar of its global growth story not just a side bet.
