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business/news//Bloomberg
Uber bought out Aspex Management’s shares of Delivery Hero SE, boosting its stake to 36.83%.
Uber now holds a 36.83% stake in Delivery Hero after buying Aspex Management's shares.
KEY POINTS
Uber increased its voting rights in Delivery Hero to 24.99%, staying below the mandatory offer trigger.
The remainder of Uber's stake in Delivery Hero is held in financial instruments, not common shares.
Uber paid just under €40 per Delivery Hero share in this undisclosed transaction.
Uber Technologies Inc. bought out Aspex Management’s shares of Delivery Hero SE, boosting its stake to 36.83% as the ride-hailing company negotiates a deal to buy the German food-delivery platform.
Uber raised its voting rights attached to shares to 24.99%, with the remainder of the stake in instruments, Delivery Hero said in a regulatory filing on Wednesday. That is below a threshold that could trigger a mandatory offer. Uber paid just below €40 per share, according to people familiar with the matter who asked not to be identified because the information wasn’t public.