Uber Raises Delivery Hero Stake in €270 Million Prosus Deal (2)

Uber Technologies Inc. is raising its holding in Germany’s Delivery Hero SE, buying a stake from its European rival’s biggest shareholder for €270 million ($318 million).

The ride-hailing company will purchase 4.5% from Prosus NV, the companies said Friday. The deal will bring its total stake in Delivery Hero to 7%, according to an Uber spokesperson.

Prosus is selling the shares at €20 apiece, a premium of about 22% of the one-month volume-weighted average price of Delivery Hero shares as of Thursday.

Delivery Hero climbed as much as 6.4% in Frankfurt on the news. Uber shares were little ...