Uber drops acquisition of Taiwan Foodpanda business
Uber has abandoned its bid to acquire Foodpanda's operations in Taiwan and will be required to pay a hefty termination penalty. Uber, the parent company of Uber Eats, has terminated its NT$31.28 billion (US$950 million) acquisition of Delivery Hero’s Foodpanda delivery business in Taiwan,
Uber terminates deal to buy Foodpanda Taiwan
Uber Technologies Inc has terminated its deal to acquire Delivery Hero SE’s Foodpanda business in Taiwan, after the local antitrust regulator rejected it in December last year. Uber is required to pay a termination fee that is estimated to be about US$250 million, Delivery Hero said in a statement on Tuesday.
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