Key Highlights
- Uber secured an additional 4.5% ownership in Delivery Hero through a $318 million transaction (270 million euros)
- The transaction valued shares at 20 euros each — representing a 22% premium over the 1-month trading average despite falling below Thursday’s closing price
- Delivery Hero shares surged approximately 8.5% following the announcement
- Prosus divested the stake to comply with European Commission requirements tied to its 4.1 billion euro Just Eat Takeaway.com acquisition
- Prosus ownership in Delivery Hero decreased to approximately 21%, down from roughly 27% at the time of the Just Eat deal announcement
Uber continues to strengthen its investment in Delivery Hero through a newly announced $318 million transaction that secures an additional 4.5% stake from Prosus, the German food delivery company’s primary shareholder.
UBER HAS REACHED AN AGREEMENT TO ACQUIRE AN ADDITIONAL 4.5% STAKE IN DELIVERY HERO, TO ACQUIRE DELIVERY HERO SHARES AT €20 APIECE – FT
— First Squawk (@FirstSquawk) April 17, 2026
The transaction valued shares at 20 euros apiece. While this pricing sits below Delivery Hero’s Thursday closing figure following a 7% surge, Prosus highlighted the valuation as a 22% premium compared to the 1-month average trading price.
Delivery Hero shares climbed approximately 8.5% following the disclosure. Uber shares gained around 0.8%.
Uber previously established its position in Delivery Hero during 2024, acquiring $300 million worth of newly-issued Delivery Hero shares. Friday’s transaction represents a strategic expansion of that initial investment.
The regulatory context provides essential perspective. Prosus announced its intention to acquire Just Eat Takeaway.com for 4.1 billion euros last year. The European Commission granted conditional approval for this acquisition, requiring Prosus to substantially reduce its Delivery Hero ownership.
When Prosus first announced the Just Eat acquisition, it controlled approximately 27% of Delivery Hero. Current ownership stands at roughly 21%. The company affirmed its commitment to “selling the relevant portion of its stake within the required timeframe.”
Additional share sales appear likely in the coming months.
European Competition Policy Under Review
This transaction arrives during a pivotal period for European merger regulation. Recent Financial Times reporting revealed the European Commission’s consideration of revised approaches to large-scale merger assessments.
The Commission reportedly plans to incorporate additional factors such as “innovation, investment and resilience of the internal market” into its evaluation framework.
Teresa Ribera, Europe’s competition commissioner, told the FT that the EU seeks to facilitate “pro-competitive mergers” enabling European companies to maintain competitive positions in global markets.
Prosus CEO Fabricio Bloisi has publicly addressed these regulatory challenges. During a January CNBC interview, he emphasized the necessity of major consolidations for global competitiveness, arguing that Europe’s historical approach to blocking mergers has hindered regional growth.
“We have to change that to create really big companies in Europe,” Bloisi stated.
Transaction Details
Uber paid 20 euros per share for the 4.5% stake. Prosus received approximately 270 million euros in gross proceeds, equivalent to $318 million.
Delivery Hero shares experienced significant upward momentum before official confirmation, advancing roughly 7% during Thursday trading. The Friday surge of 8.54% extended gains, with DHER-FF adding 1.69 euros.
Prosus (PRX-NL) traded approximately 0.4% higher at the time of reporting.
The Just Eat acquisition awaits final regulatory approval. Prosus must continue reducing its Delivery Hero holdings to fulfill the Commission’s stipulated conditions.
