Uber will be the new owner of Pedidos Ya, after a global operation valued at US$ 14.8 billion

Among the businesses that Uber will buy is PedidosYa, which operates in Argentina, Bolivia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela. In addition, Uber recently relaunched its Uber Eats delivery division in the country.

Additionally, Delivery Hero, which in turn controls the Spanish Glovoreached an agreement with the US fund SSW Partners to sell its businesses in fourteen countries for US$1.6 billion. In most of these markets—including Spain—Uber Eats is also present. The fund will manage those businesses until find new buyers.

The split of some markets could alleviate regulatory concerns related to the operation.

As detailed this Thursday through a statement, Uber, which already has 25% of Delivery Hero, It offers shareholders 41.5 euros for each of its shares, which means valuing the German firm at 14.8 billion dollars. The transaction is subject to regulatory approval.

The maximum amount offered is reduced, however, to about US$C 13.7 billion (about 12 billion euros) when discounting the stake that Uber already owns in the German group, whose board unanimously supported an operation that it will recommend to shareholders to accept.

Furthermore, the investment group Prosus, which controls almost 17% of Delivery Hero, has irrevocably committed to accept the offer, which will be finalized if the 50% acceptance quota is exceeded.

In recent months, Uber had already become the largest shareholder in Delivery Hero and until now had a 25% stake, to which financial instruments were added for 12%.

If closed successfully, the resulting company will be the world’s largest mobility and food delivery servicespresent in 99 markets with combined gross reserves worth US$236 billion (207 billion euros) in 2025.

Uber is committed to “supporting the company culture” of Delivery Hero, and maintain the German headquarters in Berlinas well as the operational centers in the regions. Furthermore, you must respect that Delivery Hero is independently governed by its board of directors with supervision by the supervisory board.

It is also obligated to invest €2 billion in Germany over the next few years, with a focus on developing its local corporate workforce, growing its business nationally, and launching autonomous vehicle deployments and partnerships with the German automotive industry.

In addition, in the next three years you will not be able to sign any control or profit transfer agreement.

The food delivery market, which boomed during the pandemic and gave rise to dozens of competitors, has rapidly consolidated in recent years. Uber, originally dedicated to passenger transportation through appshas been making acquisitions to strengthen its international position, while American competitors like DoorDash move in the same direction.

DoorDash agreed last year to buy Britain’s Deliveroo Plc, while Prosus reached an agreement to acquire Just Eat Takeaway.com.

The acquisition represents a significant expansion for Uber in Asia, Latin America and the Middle East and will elevate the total number of markets in which it operates from 79 to 99.