Uber Continues to Increase Stake in Delivery Hero
By Adam Whittaker
Uber Technologies increased its stake in Delivery Hero, bolstering its position in the German food-delivery company days after making a 10 billion-euro ($11.63 billion) takeover approach.
The U.S. ride-hailing company now holds 36.83% of Delivery Hero's voting rights, up from 25.1% previously, according to a regulatory disclosure on Wednesday. Uber owns a direct stake in Delivery Hero of just under 25% and an additional 11.84% through financial contracts, which compares with its previous holdings of 19.5% and 5.6%, respectively, according to the filing.
A separate filing showed Hong Kong-based investor Aspex Master Fund roughly halved its stake in Delivery Hero to around 7.56%.
Delivery Hero said over the weekend that Uber had made an indicative takeover proposal to all its shareholders valuing at 33 euros a share. Shares in Delivery Hero jumped Monday after closing at 33.59 euros on Friday, continuing a rally that has now seen its market capitalization double over the past month.
In response to Uber's offer, Delivery Hero said it was fully focused on executing its strategic review.
Uber didn't immediately respond to a request for comment. The U.S. company, which has been building its stake in Delivery Hero in recent weeks, said last week that it didn't intend to acquire 30% or more of the company's voting rights.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
May 28, 2026 02:53 ET (06:53 GMT)
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