Uber terminates Foodpanda Taiwan acquisition, citing regulatory hurdles

Uber Technologies Germany -based technology company Taiwan has completed the acquisition of Delivery Hero Foodpanda Says TuesdayThe

The announcement comes about three months later Taiwan’s unbeliever regulator Blocking the contract with quotation CompetitiveThe The Fair Trade Commission (FTC) says that if Uber earns foodpanda, its market share in Taiwan will rise to 90%, which may probably rise by Uber.

Uber is its and foodpanda Top player Taiwan’s food supply market. It has been found in a recent report Foodpanda that enjoyed 52% of the 52% market share from January 2023 to August 2023, when Uber Ets was 48%. Food distribution companies such as Foodomo and many other fast-food delivery applications create a small percentage of the Taiwan market share.

Uber under the agreement signed on May 7, 2021 will have to pay a finishing fee that is estimated to be about $ 250 million.

Uber and Delivery Hero did not immediately respond to any TechCrunch request for comments.

Uber while Declaration It will buy the Taiwan department from the delivery hero, it was expected to complete the contract in the first half of 2021. This step, especially in Taiwan, has strengthened the presence of Uber El’s growth plans in Asia. The two companies were also involved in a separate agreement where the Uber Delivery Hiro agreed to buy $ 300 million to the recently issued ordinary shares.

The agreement also highlighted the continued withdrawal of delivery hero from the same market. At that time, the delivery hero was trying to sell a package of his other southeast Asian operations – Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines and Thailand – to an undisclosed third party. In September 2023, it That discussion is overIn a statement, “the decision to stop the discussion after a few months of discussion was taken carefully after consideration.”

Delivery Hero Food Delivery Department competes with the occupation of Southeast Asia.

In September, its foodpand unit A trimmed stage To facilitate operations before possible sale. In 2022 and 2023 the cuts followed the trim of previous staff.