|Bid||127.90 x 0|
|Ask||127.95 x 0|
|Day's Range||123.45 - 134.00|
|52 Week Range||50.18 - 145.40|
|Beta (5Y Monthly)||0.56|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||42.81|
(Bloomberg) -- Hundreds of employees at the Turkish unit of German food delivery company Delivery Hero SE are working to get unionized, a campaign that could have implications for other online delivery operations.“We may formally apply to be registered to represent the workers as early as next week,” Ali Riza Kucukosmanoglu, chairman of Turkey’s Nakliyat-Is labor organization, said by phone on Wednesday. The union is close to organizing at least 40% of Yemeksepeti.com’s 6,000 workers, a number that’s growing as the coronavirus pandemic boosts demand for its services, he said.Most of the company’s employees work at food and grocery delivery and warehouses, and they’re seeking better pay and working conditions, Kucukosmanoglu said.Yemeksepeti.com dominates the online delivery market in Turkey. A successful unionization could create a precedent for the online delivery industry, he said.Labor organizations in other countries are also seeing an opportunity for further gains during the pandemic. Powerful unions and activist regulators in Europe have come down on online retail giant Amazon.com, which for years has mostly prevented organized labor from penetrating its employee ranks.Yemeksepeti.com’s chief executive officer, Nevzat Aydin, declined to comment on the unionization push inside the company. Delivery Hero didn’t respond to an email requesting comment.Berlin-based Delivery Hero acquired Yemeksepeti.com for $589 million in 2015. The company calls Turkey its most mature food delivery market in the Middle East and North Africa, though it doesn’t provide a country-by-country breakdown in its financial reports.Delivery Hero is the world’s largest online food order and delivery firm outside China, and operates in about 50 markets, according to its website. The company employs about 27,000 workers.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Delivery Hero SE is raising as much as $1.6 billion in a share sale, building a war chest for potential deals as the fight to dominate the food delivery market intensifies.The German company will sell as many as 9.44 million new shares in an accelerated offering to bolster its cash position and take advantage of “attractive investment opportunities,” it said in a statement. Delivery Hero has gathered enough orders for all the shares on offer, according to terms of the deal seen by Bloomberg News.Food delivery companies are riding a wave of growth from consumers ordering from home during the coronavirus pandemic, but the sector remains marked by harsh competition and a fight to secure greater market share.Based on the food delivery company’s closing price on Wednesday, it could raise as much as 1.3 billion euros ($1.6 billion). Shares in this type of transaction are usually sold at a discount. The company’s shares were down 3.5% on Germany’s Tradegate exchange compared to Wednesday’s close on the Frankfurt exchange.In late 2019 Berlin-based Delivery Hero, which claims to be the largest food delivery provider outside China, announced plans to take majority control of Korea’s Woowa Brothers Corp. at a $4 billion valuation, expanding its foothold in Asia. The investment would help Woowa go up against SoftBank Group Corp.-funded competitor Coupang, which has also invested aggressively in food delivery.A spokeswoman for Delivery Hero said the Woowa transaction was covered by existing financial resources, adding the new funds are aimed at increasing the company’s financial flexibility more broadly.JPMorgan Chase & Co. and Morgan Stanley are the global coordinators on the share offering, alongside bookrunners HSBC Holdings Plc and UniCredit SpA.(Changes lede, adds comment from spokeswoman)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
After decades of global expansion and consolidation in the tech sector, antitrust is now a headline issue for the industry across the world. What has been a slow and sputtering series of disparate actions over the past decade has coalesced in just the past few weeks into a rapid and comprehensive series of actions against the industry, with the United States being a notable laggard worldwide. Nowhere are these actions more prominent than in China, where the competition authorities have — after many years of a reasonably laissez-faire policy to its internet giants — suddenly decided to take sweeping action against its largest tech companies.