Uber has reached an agreement to purchase an extra 4.5% stake in German food-delivery group Delivery Hero from investor Prosus for around 270 million euros ($318 million), the companies said.
The acquisition will be executed at a price of 20 euros per share, according to Prosus. That price is 22% above Delivery Hero's one-month average share price, even though it sits below the company's most recent closing level following a 7% rally in the stock on Thursday.
Prosus is selling this parcel of Delivery Hero stock to meet regulatory conditions linked to its planned 4.1 billion euro takeover of Just Eat Takeaway.com, a deal announced last year. The European Commission conditioned approval of the Just Eat transaction on Prosus materially reducing its stake in Delivery Hero.
As a result of the sale to Uber, Prosus's ownership in Delivery Hero will fall to roughly 21% from about 27% at the time the Just Eat Takeaway.com agreement was made public. Prosus reiterated that it intends to divest the required portion of its Delivery Hero holdings within the timetable set by the regulators.
Uber first entered Delivery Hero's shareholder base in 2024, when it invested $300 million in newly issued Delivery Hero shares. This latest purchase expands Uber's position in the European delivery company through an acquisition of existing stock from a major institutional holder rather than through a primary issuance.
The transaction and the regulatory backdrop reflect how a takeover elsewhere in the food-delivery sector is prompting portfolio adjustments by large shareholders. The deal price, the relative premium to recent averages and the immediate effect on Prosus's stake are central elements disclosed by the parties.
Details provided by Prosus indicate the company remains committed to completing the mandated disposals within the timeframe required by regulators. Beyond those commitments, no additional terms or future steps were disclosed in the statements accompanying the deal.