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Uber Technologies increased its stake in Delivery Hero SE to 36.83% by purchasing shares held by Aspex Management, paying just under €40/share. Uber holds voting rights on 24.99% of shares with the remainder of its stake being held in instruments. This move follows Uber’s initial takeover bid of €33/share last week, which valued the company at roughly €10bn (~$11.6bn) with no premium to its then-current share price. If Uber seeks to further raise its shareholding, it will likely need antitrust clearances across the many markets where Delivery Hero operates. Prosus NV, which holds a 17% stake in Delivery Hero, is under an EU mandate to divest most of its holding by August as a condition of its acquisition of Just Eat Takeaway.com. Prosus has since asked the EU to waive that requirement, given the ongoing acquisition talks.
Uber’s dollar bonds traded stable. Its 4.3% 2030s were at 98.8, yielding 4.7%.
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