Uber offers to buy Germany's Delivery Hero, at value of nearly $15bn

US ride-hailing giant Uber on Thursday announced a multibillion-euro deal to acquire Germany's Delivery Hero as it seeks to expand its presence in the global food delivery market.

Under the deal, Uber is offering €41.50 ($47.60) per Delivery Hero share, valuing the Berlin-based company at around $14.8 billion.

Before the deal, Uber held a stake of just under 25% in Delivery Hero, along with financial instruments representing nearly another 12%.

The transaction was made possible after Delivery Hero's largest shareholder, Dutch investment company Prosus, agreed to sell its stake of almost 17%. Prosus had committed to divest the holding as part of its acquisition of Delivery Hero rival Just Eat Takeaway, the latest deal in a wave of consolidation across the global food delivery market.

Although Delivery Hero no longer operates in Germany after selling its domestic business to Just Eat Takeaway, it remains one of the world's largest food delivery companies, with a strong presence across Asia, Southern Europe, the Arabian Peninsula and Africa.

San Francisco-based Uber also operates its own food delivery platform, Uber Eats, including in many German cities.

If the transaction goes through, Uber has committed to keeping Delivery Hero's headquarters in Berlin and making no changes to the company's workforce in the German capital until at least 2029.

"Delivery Hero's talented team has built an extraordinary business, with beloved local brands and leading positions across many of the world's fastest-growing delivery markets," said Uber chief executive Dara Khosrowshahi. 

"By bringing our platforms together, we will extend affordable, reliable delivery to many millions more people in many of the world's most dynamic economies, while creating more opportunities for merchants and couriers."