Uber Technologies has announced a voluntary takeover offer for Delivery Hero SE, the Berlin group behind UAE food-delivery leader talabat, in a cash deal that values the German company at roughly USD 14.8 billion. The offer, disclosed on Thursday morning, folds talabat and its sister brands into Uber's global platform and cements the Dubai-listed operator's position under a single US-based parent. For UAE merchants, couriers and investors, the transaction consolidates ownership without disturbing day-to-day operations.
The deal
Uber is offering EUR 41.50 in cash per Delivery Hero share, with a minimum acceptance threshold of 50% plus one share. On a fully diluted basis the price implies an equity value of about USD 14.8 billion. Adjusted for Uber's existing shareholding of roughly 19.5% and a 5.6% option position, the incremental cash outlay comes to about USD 13.7 billion, according to Gulf News.
What Uber keeps and what SSW Partners takes
Uber retains Delivery Hero's core operating brands across 50 markets. To address antitrust overlap with Uber Eats, New York investment firm SSW Partners will carve out 14 markets for roughly USD 1.6 billion, according to Delivery Hero.
Brands staying with Uber:
- talabat — UAE, Bahrain, Egypt, Iraq, Jordan, Kuwait, Oman, Qatar
- HungerStation — Saudi Arabia
- foodpanda — Asia
- PedidosYa — Latin America
- Glovo — selected European and African markets
- Baedal Minjok — South Korea
SSW Partners carve-out (14 markets): Austria, Czechia, Cyprus, Ecuador, Greece, Moldova, Norway, Poland, Portugal, Romania, Spain, Sweden, Chile and Türkiye.
talabat and the UAE market
talabat is the largest food-delivery operator in the UAE and has been listed on the Dubai Financial Market since December 2024, when it raised about USD 2 billion at a valuation of roughly USD 10.16 billion — the largest technology IPO ever staged in MENA.
Group-wide gross merchandise value from GCC markets sits at about USD 7.8 billion of roughly USD 9.5 billion overall, meaning the Gulf accounts for more than 80% of the business. That concentration explains why any change in talabat's ownership structure carries outsized weight for the UAE digital economy.
talabat shares had traded higher in the days leading up to the announcement, closing 0.8% up earlier in the week and moving as much as 2.5% intraday to AED 1.20 on deal speculation, according to data cited by Waya Media. The post-announcement trading reaction is still developing.
Commitments and closing timeline
Uber has pledged EUR 2 billion of investment in Germany through 2031, will keep Delivery Hero's Berlin headquarters and has committed to protect the Berlin workforce for three years, through 2029. Combined pro-forma 2025 gross bookings across the two platforms sit at roughly USD 236 billion across 99 markets.
Closing is targeted for the second half of 2027, subject to approval by Germany's financial regulator BaFin, compliance with the German Takeover Act (WpÜG) and merger control clearances in all relevant jurisdictions.
"By bringing our platforms together, we will extend affordable, reliable delivery to many millions more people in many of the world's most dynamic economies, while creating more opportunities for merchants and couriers," said Dara Khosrowshahi, Chief Executive of Uber, who also noted that the transaction doubles the number of markets where Uber offers both mobility and delivery.
"Uber's global mobility and delivery platform and our shared commitment to innovation make this the right partnership to build on Delivery Hero's strengths in local food delivery and Quick Commerce," said Niklas Östberg, co-founder and Chief Executive of Delivery Hero.
Kristin Skogen Lund, Chair of Delivery Hero's Supervisory Board, described the transaction as "the right move for Delivery Hero to best secure its future competitiveness."
What it means for UAE business
For UAE operators, investors and employees, the deal reinforces talabat's local footprint under a better-capitalized US parent, but changes little in day-to-day operations or contractual relationships in the near term.
- Last-mile logistics. Merchants and couriers should expect continuity of the existing talabat platform, with additional capital and technology flowing from Uber's global stack — likely accelerating investment in dispatch algorithms, driver tools and fintech-adjacent products.
- DFM investors. talabat's Dubai listing is not part of the transaction. Retail and institutional holders on the DFM retain their exposure to the UAE-domiciled business; corporate control shifts at the parent level, but the local vehicle's shareholder register does not.
- GCC tech M&A. The transaction is the largest cross-border deal involving a Gulf-listed technology asset since talabat's own IPO, and signals continued appetite among US strategics for MENA digital platforms.
- Regulatory landscape. Closing depends on BaFin, WpÜG procedures and multi-jurisdictional antitrust review. UAE authorities are not on the critical path for parent-level approval, but competition oversight of quick-commerce concentration in the GCC is worth watching.
- Talent. Delivery Hero's Berlin headcount is protected through 2029 by contractual commitment. No equivalent guarantee has been published for MENA staff, though Uber has framed talabat as a strategic growth pillar in the region.
Until closing, both companies will continue to operate independently. talabat customers, restaurant partners and couriers should see no immediate change to service, contracts or payments. Investors and market participants can watch for the formal offer document, BaFin sign-off and the first competition filings — the milestones that will set the pace between announcement and completion.
