RTR: Uber's trucking unit to buy Transplace for $2.25bn

Deal

By LoadstarEditorial

22/07/2021

REUTERS reports:

Uber Technologies Inc (UBER.N) said on Thursday its trucking unit would buy transportation logistics company Transplace for about $2.25 billion from private equity firm TPG Capital.

The deal consists of up to $750 million in Uber common stock and the remainder in cash, the ride-share company said in a statement.

Transplace will be acquired by Uber Freight, which is Uber’s trucking unit.

“This transaction is expected to accelerate Uber Freight’s path to profitability and help the segment to break even on an adjusted EBITDA basis by the end of 2022,” Uber said…

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Topics

Uber Uber Freight Team Worldwide The driver shortage crisis The near-shoring shift US-Mexico

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