Uber terminates acquisition of Delivery Hero’s foodpanda Taiwan

The agreement included a termination clause.

Delivery Hero SE has announced that Uber Technologies, Inc. has officially terminated its agreement to acquire Delivery Hero’s foodpanda business in Taiwan.

The decision follows the Taiwan Fair Trade Commission’s (TFTC) refusal to approve the deal and the subsequent expiration of the appeal period.

The agreement, originally signed on May 14, 2024, included a termination clause. As a result, Uber is now obligated to pay Delivery Hero an estimated termination fee of approximately $250m. The final amount will be determined based on various factors outlined in the agreement.

Still, Delivery Hero said that Taiwan remains a core part of its long-term strategy “The company remains focused on supporting foodpanda’s position in Taiwan as it continues to deliver amazing experiences to its customers, riders, and vendors.”