Saudi company Ninja has really ramped up its expansion plans in the delivery sector. They've brought in a group of top global and local investment banks to advise them on potential opportunities to acquire assets owned by Germany's Delivery Hero in Saudi Arabia and the UAE, according to sources familiar with the matter.
The list of financial advisors involved in studying this potential deal includes big names like Goldman Sachs, Citi Group, and UBS, along with Riyadh Capital. This move truly highlights the expected scale and complexity of the upcoming operation.
HungerStation and Talabat Catching Attention
This move follows reports suggesting that Ninja had submitted an initial offer to acquire the Saudi platform "HungerStation," which is fully owned by Delivery Hero. Ninja also showed interest in potentially acquiring a stake in "Talabat," listed on the Dubai Financial Market, if it were to be put up for sale.
The German group owns all shares of HungerStation, in addition to an 80% stake in Talabat. This means any potential deal could be one of the most significant reshuffles in the region's food delivery sector.
Growing Competition for These Assets
Ninja's interest comes at a time of increasing competition for Delivery Hero's assets. Reports have also mentioned that the American company Uber is looking to make a broader acquisition deal for the German group, which could put both parties on a direct competitive path.
Observers believe that Ninja bringing in a large number of financial advisors reflects the importance and strategic value of these target assets, especially with the continuous growth seen in the food delivery and quick commerce sectors across the Gulf markets.
A Deal That Could Redraw the Sector's Map
If any of these deals go through, they could help redistribute market shares among the main players in the region's delivery sector. It would also strengthen Ninja's presence as a major regional player in a market that's seeing increasing investment activity and rapid mergers and acquisitions.
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