Delivery Hero

Taiwan’s competition authority TFTC has rejected Delivery Hero’s sale of Foodpanda’s Taiwan business to Grab. Delivery Hero had agreed the deal in March for $600 million; both parties had also arranged protective measures and a break-fee agreement. Grab can appeal the decision, but it is unclear whether it will do so. » More on finanzen.net

After an internally planned succession, founder Niklas Östberg continues to serve as chairman and CEO of Delivery Hero. Activist investors sold shares, so a vote of no confidence and the planned replacement were not carried out. Uber intends to acquire Delivery Hero for up to €13 billion and has already secured a majority of the shares; the headquarters in Berlin and the workforce will remain at least until 2029. Delivery Hero has not yet made profits; Östberg now intends to lead the company into its next phase. » More on faz.net

Delivery Hero has lowered the interest margin on its roughly $1.33 billion Term-Loan B to 350 basis points plus SOFR, 150 basis points less than before. All other terms, including the maturity in December 2029, remain unchanged. The stock showed slight declines in XETRA trading. » More on finanzen.net