Uber has reached an agreement with Prosus to increase its stake in German food delivery company Delivery Hero for 270 million euros (about $318 million), the parties announced on April 17.
Under the agreement, Uber will acquire a 4.5% stake in Delivery Hero. Prosus is selling the shares for 20 euros (about $24) each, about 22% higher than the one-month average market price as of April 16.
As a result of the sale, Prosus’ stake in Delivery Hero will decrease from 26.3% to 21.8%. The move was taken at the request of European antitrust regulators. Prosus was required to reduce its stake in Delivery Hero in the wake of its $4.3 billion acquisition of Just Eat Takeaway.com.
