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Delivery Hero SE M&A Activity 2026
94_ip_2026-03-22_401b8495-4da9-49b1-84f1-f78b3b44a02b.pdf
M&A Activity
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Divesting Taiwan operations
March 23, 2026
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Taiwan divestment marks a decisive first step to unlock shareholder value
Executive summary
- As stated in our shareholder letter dated December 9, 2025, Delivery Hero remains fully committed to reviewing and executing strategic measures, aiming to create value for our shareholders
- The divestment of our Taiwan food delivery operations to Grab for USD 600m¹ in cash marks an important first milestone transaction in our ongoing strategic review
- Through the contemplated sale, Delivery Hero aims to crystalize considerable fundamental value for its shareholders not previously reflected in Delivery Hero's trading valuation
- The transaction is expected to close in H2 2026, subject to regulatory approvals
- Delivery Hero will provide support services after closing to enable a seamless decoupling of the Taiwan food delivery operations from our global infrastructure
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Delivery Hero will remain focused on executing its strategic review objectives to unlock shareholder value and achieve optimal capital allocation
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On a debt free cash free basis
- General corporate purposes | 3. As of December 2025
Summary transaction details
Transaction
- Divestment of Delivery Hero's food delivery operations in Taiwan to Grab
- Consideration of USD 600m (cash free, debt free basis) to be paid in cash
Financials
- GMV of €1.5bn in FY 2025, representing ~3% of Delivery Hero Group's GMV
- Positive adjusted EBITDA before the allocation of group costs in FY 2025
Use of proceeds
- The proceeds from the transaction will be used to repay existing debt and for GCP²
- Further enhancing our capital structure and reducing net leverage from ~2.7x to ~2.2x³
Closing
- Closing expected in H2 2026 after customary regulatory approvals have been obtained
- Migration period following closing during which we will provide support services
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Investor Relations Contact
Andrea Ferraz
VP, IR & External Comms
[email protected]
Frank Böhme
Director IR
[email protected]
Christoph Bast
Head of IR
[email protected]
Lukas Herzog
Manager IR
[email protected]
Barbara Jeitler
Director IR
[email protected]
Loredana Strömbei
Sr. Specialist IR
[email protected]
Investor Enquiries
T: +49 (0)30 54 4459 105
Oranienburger Straße 70, 10117 Berlin, Germany
Visit us on our social media channels
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Important Notice
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For the purposes of this notice, “presentation” means this document, its contents or any part of it. This presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any part of it form the basis of or be relied upon in connection with or act as any inducement to enter into any contract or commitment or investment decision whatsoever.
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This presentation is neither an advertisement nor a prospectus and should not be relied upon in making any investment decision to purchase, subscribe for or otherwise acquire any securities. The information and opinions contained in this presentation are provided as at the date of this presentation, are subject to change without notice and do not purport to contain all information that may be required to evaluate Delivery Hero SE. Delivery Hero SE undertakes no obligation to update or revise this presentation. No reliance may or should be placed for any purpose whatsoever on the information contained in this presentation, or any other information discussed verbally, or on its completeness, accuracy or fairness.
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The information in this presentation is of preliminary and abbreviated nature and may be subject to updating, revision and amendment, and such information may change materially. Neither Delivery Hero SE nor any of its directors, officers, employees, agents or affiliates undertakes or is under any duty to update this presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information.
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The presentation and discussion contain forward looking statements, other estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE (“Forward-looking Statements”). These Forward-looking Statements can be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “aims”, “plans”, “predicts”, “may”, “will” or “should” or, in each case, their negative, or other variations or comparable terminology. These Forward-looking Statements include all matters that are not historical facts. They appear in a number of places throughout this presentation and include statements regarding Delivery Hero SE’s intentions, beliefs or current expectations concerning, among other things, Delivery Hero SE’s prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Similarly, past performance should not be taken as an indication of future results, and nor representation or warranty, express or implied, is made regarding future performance. The development of Delivery Hero SE’s prospects, growth, strategies, the industry in which it operates, and the effect of acquisitions on Delivery Hero SE may differ materially from those made in or suggested by the Forward-looking Statements contained in this presentation or past performance. In addition, even if the development of Delivery Hero SE’s prospects, growth, strategies and the industry in which it operates are consistent with the Forward-looking Statements contained in this presentation or past performance, those developments may not be indicative of Delivery Hero SE’s results, liquidity or financial position or of results or developments in subsequent periods not covered by this presentation. Any Forward-Looking Statements only speak as at the date of this presentation is provided to the recipient and it is up to the recipient to make its own assessment of the validity of any Forward-looking Statements and assumptions. No liability whatsoever is accepted by Delivery Hero SE in respect of the achievement of such Forward-looking Statements and assumptions.