Uber to acquire Delivery Hero for $14.8 billion; Glovo sold to SSW Partners

Uber Technologies has agreed to acquire Delivery Hero, the German food-delivery giant, in a deal valued at approximately $14.8 billion (€12.9 billion). The transaction includes a parallel sale of Delivery Hero's operations in 14 markets—including Spain's Glovo—to the U.S. investment firm SSW Partners for about $1.6 billion, a move designed to ease regulatory concerns.

The deal

Uber will pay €41.50 per share for the outstanding shares of Delivery Hero, a 127% premium over the three-month average price before May 2026 Source: El Español. The offer has the unanimous backing of Delivery Hero's board and is supported by major shareholder Prosus, which holds nearly 17% of the German company Source: ABC. Uber already owned about 25% of Delivery Hero and held additional derivatives, giving it a combined economic interest of roughly 36.8% before the offer Source: Infobae. The transaction is expected to close in the second half of 2027, subject to at least 50% acceptance and regulatory approvals.

Regulatory carve-out

To avoid antitrust issues in overlapping markets, Delivery Hero separately agreed to sell its businesses in 14 countries—Austria, Chile, Cyprus, Czech Republic, Ecuador, Greece, Moldova, Norway, Poland, Portugal, Romania, Spain, Sweden, and Turkey—to SSW Partners Source: La Vanguardia. This includes Glovo in Spain, where a combined Uber Eats–Glovo entity would control over 82% of the market Source: El Español. Uber will retain Delivery Hero's operations in 50 markets, including PedidosYa in most of Latin America except Chile and Ecuador Source: Emol.

Market consolidation