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Uber Technologies has ended its skill of Delivery Hero ’s Foodpanda in Taiwan , the Germany - based tech firmsaid on Tuesday .
The announcement issue forth roughly three months afterTaiwan ’s antitrust regulatorblocked the lot , citingcompetitive issues . The Fair Trade Commission ( FTC ) said that if Uber evolve Foodpanda , its market share in Taiwan would increase to 90 % , potentially leading to price increases by Uber .
Uber Eats and Foodpanda arethe top playersin Taiwan ’s food delivery market . In a recent theme , it was foundthat Foodpanda enjoyed 52 % market ploughshare from January 2022 to August 2023 , while Uber Eats had 48 % . Food saving company like Foodomo and many other riotous - food bringing apps make up a lilliputian pct of Taiwan ’s market share , comparatively .
Under the agreement signed on May 14 , 2024 , Uber is required to pay a termination fee that is estimated to be about USD $ 250 million .
The companies opted not to attract the decisiveness of Taiwan ’s FTC . grant to a Delivery Hero spokesperson , the appeal deadline pass away on March 10 , 2025 .
When Uberannouncedit would buy Foodpanda ’s Taiwan division from Delivery Hero , it expected to complete the deal in the first half of 2025 . The move aligned with Uber Eats ’ architectural plan to grow in Asia , particularly by strengthen its bearing in Taiwan . The two companies also occupy in a separate deal in which Uber agreed to buy $ 300 million of new issued average shares from Delivery Hero . The acquisition mickle ’s termination would not affect Uber ’s leverage of $ 300 million in newly egress ordinary shares of Delivery Hero in May 2024 , the spokesperson at Delivery Hero evidence TechCrunch .
The deal also highlighted Delivery Hero ’s continued detachment from that same market place . At the time , Delivery Hero was seek to betray off a package of its other Southeast Asian operation — including in Singapore , Cambodia , Laos , Malaysia , Myanmar , the Philippines , and Thailand — to an unrevealed third political party . In September 2023 , itended those discussion , saying in a statement that the “ conclusion to send away negotiations after month of discussions was taken after careful thoughtfulness . ”
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Delivery Hero ’s food delivery division contend with Grab in Southeast Asia .
In September , its Foodpanda unitstaged a layoffaimed at streamlining operations beforehand of a potential sales agreement . The baseball swing espouse earlier staffing layoffs in 2022 and 2023 .
