BERLIN (dpa-AFX) - Delivery Hero SE announced that Uber Technologies Inc. (UBER) has decided to terminate the agreement to acquire Delivery Hero's foodpanda business in Taiwan. This decision follows the Taiwan Fair Trade Commission and other local regulatory authorities' refusal to approve the deal, along with the expiration of the appeal period.
Under the agreement signed on May 14, 2024, Uber is required to pay a termination fee. The final amount, calculated based on several variables, is estimated to be about USD 250 million.
Delivery Hero said it remains focused on supporting foodpanda's position in Taiwan.
In May 2024, Uber Technologies agreed to acquire Delivery Hero's foodpanda delivery business in Taiwan for $950 million in cash.
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