Delivery Hero SE, the Germany-based global local delivery platform, has confirmed that the American multinational transportation company Uber Technologies, Inc. has decided to terminate the agreement to acquire Delivery Hero’s foodpanda business in Taiwan.

This follows the decisions of local regulatory authorities, including the Taiwan Fair Trade Commission (TFTC), not to approve the deal, and the expiration of the relevant appeal period, Delivery Hero said in a statement on Tuesday.

Under the agreement signed on May 14, 2024, Uber is required to pay a termination fee.

The final amount, calculated based on several variables, is estimated to be about $250 million.

Taiwan remains a key part of Delivery Hero’s long-term strategy. The Company remains focused on supporting foodpanda’s position in Taiwan as it continues to deliver amazing experiences to its customers, riders, and vendors.

Delivery Hero is a local delivery platform operating its service in around 70 countries across Asia, Europe, Latin America, the Middle East and Africa.

The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents.

Additionally, the firm is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 20 to 30 minutes.

Headquartered in Berlin, Delivery Hero has been listed on the Frankfurt Stock Exchange since 2017 and is part of the MDAX stock market index.

Uber Eats to acquire Delivery Hero’s foodpanda delivery business in Taiwan for $950M