Magic Circle law firm Freshfields Bruckhaus Deringer has advised Uber on its $1.25 billion deal to take over Delivery Hero's foodpanda business in Taiwan and buy new shares in the German firm, which was represented by White & Case.
According to Reuters, Asia has become Delivery Hero's biggest market after its $4 billion deal in South Korea in 2019, but the company has been trying to divest some of its assets in the region to improve profitability. It added that the deal would boost the liquidity of Delivery Hero, which is grappling with rising competition in Asia.
The deal, set to close in the first half of 2025, is believed to be one of the largest-ever international acquisitions in Taiwan outside of the semiconductor industry.
The Freshfields team is led by partner John Fisher, with support from partners Rick van Aerssen, Lars Meyer, and Sabrina Kulenkamp (German corporate and capital markets); Sundeep Kapila (UK corporate); Mena Kaplan (IP); Claude Stansbury (tax); Alan Ryan and Ninette Dodoo (antitrust); Brandon Gantus (executive compensation and benefits); and Chris Lyon and Brock Dahl (data privacy).
The White & Case team was led by partners Stefan Bressler and Thilo Diehl, and included partners Ben von Maur, Philip Trillmich, Jost Kotthoff, Rebecca Emory, Vanessa Schuermann, Gernot Wagner, Yannick Adler, Tzi Yang Seow, Michael Deyong, Justin Wagstaff, and David Smith.
