KUALA LUMPUR – Foodpanda’s parent company Berlin-based Delivery Hero in negotiations to potentially offload its food delivery business in Southeast Asia.
In a brief statement, a Foodpanda Malaysia spokesperson said negotiations are ongoing with several parties regarding a possible sale of its Foodpanda business in selected Southeast Asia markets.
“Any discussions or plans are in their preliminary stages.”
Meanwhile, Delivery Hero confirmed negotiations for a potential sale in selected markets, such as Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos.
“The negotiations are in their preliminary stages and it is uncertain and subject to various open points whether this will lead to a definitive agreement.
“The purchase consideration for the entire transaction is still under negotiation. In any event, if an agreement is reached, approval of the supervisory board, which is still outstanding, will need to be obtained for execution of any definitive agreement.
“If signed, the transaction is expected to be subject to certain conditions including obtaining the necessary regulatory approvals in the relevant jurisdictions,” it said in a statement.
However, German business magazine Wirtschaftswoche reported that Foodpanda’s competitor Grab could pay some US$1.07 billion (approximately RM5.02 billion) for the sale.
Grab did not immediately reply to a request for comment.
Last month, Delivery Hero chief executive officer Niklas Oestberg said Asia was where the company saw the most opportunity to invest. – September 21, 2023