BERLIN (dpa-AFX) - The food delivery service Delivery Hero has found a buyer for its Foodpanda business in Taiwan, giving it some financial breathing space. The US ride-hailing and delivery service Uber wants to acquire the business for 950 million dollars (888 million euros), Delivery Hero announced. The sale is expected to be completed in the first half of next year. The US group will also acquire a stake of just under three percent in the MDax-listed company. To this end, around 8.4 million new shares are to be sold to Uber for 33 euros each via a capital increase. This will provide the heavily indebted German company with 278 million euros.

Delivery Hero has been looking for a buyer for its business in Southeast Asia for some time. The sale now announced in Taiwan is at least a partial success./zb/ag