Uber Adds to Stake in Germany's Delivery Hero, Becomes ...
Uber now holds options for another 5.6% of shares, which could give it blocking power as activist investor Aspex builds its own stake.
- On Monday, Uber increased its stake in Germany-based Delivery Hero to about 19.5% from roughly 7%, becoming the largest shareholder in the food-delivery firm.
- European Commission conditions forced former majority shareholder Prosus to cut its stake to below 10%, causing increased trading volume in the Berlin-based food-delivery company.
- Uber's stake is worth around 1.7 billion euros, and the company holds options for a further 5.6% of shares; Uber stated it does not currently intend to increase its stake to 30%.
- Following the announcement, Delivery Hero shares closed 5.6% higher, with the company welcoming the investment as an endorsement of its "Everyday App" strategy despite uncertainty regarding Uber's future plans.
- Activist investor Aspex Management, holding about 15% of shares, continues its campaign against Chief Executive Niklas Oestberg ahead of Delivery Hero's annual general meeting scheduled for June 23.
13 Articles
13 Articles
The founder Niklas Östberg has just announced his farewell. Now the US company Uber is buying itself massively. It is unclear what the other shareholders are doing.
Uber secures the leading position at Delivery Hero and now controls 19.5 percent of the shares. With additional options, the US driving service could further expand its power - the share increases noticeably.
Uber became the largest shareholder of Delivery Hero after expanding its share of the company, according to data from the London Stock Exchange Group (LSEG), which provides information and infrastructure for global financial markets. Expanding the business: Shein buys American Everlane, brand of ‘discreet luxury, for US$ 100 million Change of route: LVHM conglomerate, by billionaire Bernard Arnault, sells the Marc Jacobs label Founded in 2011, D…
The US competitor buys massive shares and holds further voting rights via options. Delivery-hero share jumps up after the announcement.
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