Delivery service: Uber secures two thirds of the shares in Delivery Hero

Munich. The US driving service Uber has already secured almost two thirds of the shares in Delivery Hero in its first attempt. According to its own information on Tuesday, after the end of the acceptance period, Uber has access to 66.56 percent of the Berlin food delivery service.

It was already clear through firm commitments before the acceptance period began that Uber would obtain the majority required to complete the takeover. Delivery Hero shareholders now have another opportunity from Wednesday until November 24th to sell their shares to Uber for 41.50 euros each.

With the acquisition worth up to 13 billion euros, Uber will become the largest food delivery service in the world outside of China. Americans already deliver food from restaurants to their door using Uber Eats. In order to avoid antitrust problems, Delivery Hero is simultaneously selling its business in 14 countries to the New York financial investor SSW Partners for 1.4 billion euros.

As part of the agreement, Uber wants to keep Delivery Hero's headquarters in Berlin until at least 2029, keep the workforce there stable and invest up to two billion euros in Germany.

Uber had already held 24.52 percent of Delivery Hero shares before the takeover offer was launched. 34.63 percent - including the major Dutch shareholder Prosus - had offered their shares in the first acceptance period. In addition, Uber has secured 7.42 percent via derivatives, which can be exchanged for Delivery Hero shares.

In addition, there are derivatives (total return swaps) for 4.2 percent of the shares, which are actually settled in cash, but for which an exchange for shares can also be agreed. This would give Uber more than 70 percent of Delivery Hero.