Uber in advanced talks to acquire Delivery Hero: Report

Uber currently owns a 24.99% stake in Delivery Hero

Uber Technologies is in advanced talks to acquire German food delivery company Delivery Hero in a deal that could be reached as early as this week, according to people familiar with the matter cited by Bloomberg.

The sources said the transaction could be struck at a price above Delivery Hero's current market capitalization of about EUR 11.2 billion ($12.8 billion), implying an offer above its current share price of EUR 36.

Uber currently owns a 24.99% stake in Delivery Hero and holds derivatives that increase its total economic interest in the company to 36.8%. The company had previously offered EUR 33 per share, although investors now expect any deal to be completed at a higher price.

Any transaction is expected to face close scrutiny from competition regulators due to the companies' overlapping operations in several markets, particularly in Europe and the Middle East. Delivery Hero operates in more than 60 markets worldwide.

According to Argaam data, Delivery Hero owns 100% of Saudi-based HungerStation and holds an 80% stake in Talabat Holding, which is listed on the Dubai Financial Market with approximately 18.63 billion shares outstanding.