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Delivery Hero, the parent company of foodpanda, announced today (14) that it will sell its foodpanda delivery business in Taiwan to Uber.

The acquisition amount of up to $950 million (about NT $30.8 billion), is expected to be Taiwan's largest international acquisition outside the semiconductor industry, in addition to the two companies have also signed an agreement for Uber to purchase Delivery Hero's newly issued common shares worth US $300 million (about NT $9.73 billion).

"This is an exciting time for Uber Eats in Taiwan," said Lee Chia-ying, general manager of Uber Eats Taiwan.

Delivery Hero stated that the acquisition process is still subject to the approval of Taiwan authorities and the satisfaction of other customary closing conditions, and the transaction is expected to be completed in the first half of next year (2025).

Uber Eats said that Uber has a wider selection in northern Taiwan and major cities, while foodpanda has advantages in smaller cities in southern Taiwan, and it is expected that the integrated single platform will create a win-win situation for consumers, restaurants or merchants, and delivery people.

Delivery Hero said it will maintain its foodpanda operations in Taiwan until the transaction is completed and assist consumers, merchants and deliverers with the platform transition after the transaction.

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