Prosus Sells Remaining Stake in Delivery Hero to Uber

Dutch technology investor Prosus has announced its plan to sell its remaining 16.8% stake in German food delivery company Delivery Hero to US-based Uber Technologies. This transaction marks Prosus's full divestiture from Delivery Hero. The sale is linked to Uber's acquisition of Delivery Hero's operations in Taiwan. Uber had previously taken over Delivery Hero's business in South Korea. This move is seen as part of Uber's strategy to strengthen its presence in the Asia-Pacific food delivery market. Prosus had been gradually reducing its stake in Delivery Hero. In 2021, the company sold its 22% stake in Delivery Hero. The sale of the remaining stake to Uber aligns with Prosus's plans to restructure its portfolio and focus on other investment areas. While the financial details of the transaction have not yet been disclosed, regulatory approvals are required for the completion of the sale. Analysts suggest that this sale will contribute to Uber's growth targets in the food delivery segment and allow Prosus to direct the cash proceeds to other technology investments. This is not investment advice.