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Uber's Deal and Saudi Delivery Market
Uber announced its plan to acquire Delivery Hero, the owner of the HungerStation platform, with a cash offer of €41.50 per share, valuing the company at approximately $14.8 billion. The deal involves purchasing all of Delivery Hero’s shares in HungerStation, which it has fully owned since 2023, while the two companies will continue to operate independently until the transaction is completed, expected in the second half of 2027 after obtaining regulatory approvals. The transaction aims to strengthen Uber’s position in the Saudi delivery market, which has experienced significant growth and intense competition among platforms like Jahez, Keta, and Ninja. In Saudi Arabia, delivery orders reached hundreds of millions, and the market is expected to generate orders worth hundreds of millions in 2024, supported by strong operational rules and widespread subscriptions. The Competition Authority intends to study the potential impact of the deal on the market before approval, as it will considerably boost Uber’s presence in the Kingdom’s delivery sector. The acquisition could have implications for competition, especially concerning market share, order prices, and promotional offers, within a competitive environment that includes both local and international players.
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