In one of the biggest tech deals of 2026, Uber has officially launched a voluntary takeover offer for Delivery Hero, valuing the Berlin-based food delivery giant at <head>4.8 billion and pulling two of the Middle East’s most important consumer platforms, Talabat and HungerStation, under the Uber umbrella. The announcement on July 16, 2026, marks the conclusion of months of deal-making, boardroom drama, activist investor pressure, and rival bids that kept the region’s startup and investment community on edge. For founders, investors, and consumers across the GCC and MENA, the deal reshapes the landscape of food and quick commerce delivery for years to come. The Deal at a Glance Under the terms of the voluntary takeover offer, Uber will offer Delivery Hero shareholders cash consideration of €41.50 per share, representing an equity value of <head>4.8 billion, or <head>3.7 billion adjusted for Uber’s prior stake purchases. The offer carries a minimum acceptance threshold of 50% plus one share, a bar the deal is already positioned to clear. Prosus has irrevocably committed to tender its 16.68% holding, which, added to Uber’s existing position of 24.77% of voting capital plus a further 11.74% held through equity derivatives, takes Uber’s economic interest to more than 53%. Closing is expected in the second half of 2027, subject to merger control and regulatory clearances. To manage overlap with existing Uber Eats operations, Delivery Hero has entered into a separate agreement with SSW Partners, a New York-based investment firm, which will acquire Delivery Hero’s businesses in a total of 14 markets, particularly where Uber Eats and Delivery Hero already overlap, for a consideration of approximately <head>.6 billion. This includes foodora in Scandinavia, Glovo in Spain, Poland, and Portugal, and Yemeksepeti in Turkey. The combined group would operate across 99 markets, with combined pro-forma gross bookings of $236 billion in 2025, nearly doubling the number of markets where Uber offers both mobility and delivery services, from 34 to 58. For this region, the outcome is unambiguous. Every Middle East asset goes to Uber: Talabat’s eight markets spanning the UAE, Egypt, Kuwait, Qatar, Bahrain, Oman, Jordan, and Iraq, in which Delivery Hero holds 80%, and HungerStation, the wholly owned Saudi platform held outside the Talabat listed perimeter, both transfer to Uber, alongside Glovo’s businesses in Morocco, Tunisia, and Côte d’Ivoire. This settles months of speculation. DoorDash had held exploratory talks over the Middle East assets and was told Talabat’s stake alone was worth more than €9 billion, while Saudi unicorn Ninja reportedly hired Goldman Sachs, Citigroup, UBS, and Riyad Capital to advise on a bid for HungerStation. None of those rival scenarios materialized. Uber won the entire package. Talabat: A DFM-Listed Crown Jewel To understand what Uber is getting, you need to understand what Talabat has become. Founded in Kuwait in 2004, Talabat grew to become the dominant food and quick commerce delivery platform across eight Middle Eastern countries. The company made a net profit of $291.6 million in the nine months to September 2024, as revenues rose 26.7%, while targeting a minimum dividend of $400 million for the 2025 financial year. That profitability profile stands in stark contrast to its parent, Delivery Hero, which has made a net annual loss in nine of the past 10 years. Talabat IPO’d in Dubai in December 2024 at roughly a <head>0.2 billion valuation, one of the region’s most important technology listings. The deal sold out within minutes of opening for subscription, with the UAE Strategic Investment Fund, Abu Dhabi Pension Fund, and Emirates International Investment Co. subscribing as cornerstone investors. The Dubai listing was a milestone moment for the region. It was the first major tech IPO on the Dubai Financial Market and demonstrated that MENA-focused tech companies could attract serious institutional investor interest at multi-billion dollar valuations. Yet the stock has fallen more than 56% from its listing price since December 2024, a painful correction that made Delivery Hero increasingly vulnerable to outside offers. HungerStation, Saudi Arabia’s market-leading food delivery platform, was fully acquired by Delivery Hero in 2023 for $297 million. The Saudi market is among the region’s largest and fastest-growing, making HungerStation a strategically critical asset for any platform seeking genuine GCC dominance. Together, Talabat and HungerStation give Uber immediate, established leadership positions across the entire Gulf Cooperation Council plus Egypt, Jordan, and Iraq. Building those positions organically would have taken years and billions in subsidies. Instead, Uber is acquiring proven platforms with deep merchant relationships, established courier networks, and brand recognition built over more than a decade. How This D
