- Delivery Hero denied rumors its talks to sell parts of Foodpanda to Grab collapsed.
- Grab has been pegged as the lead bidder to consolidate struggling Foodpanda units and cement.
- Delivery Hero asserts Grab deal discussions are progressing with due diligence ongoing.
Delivery Hero denies rumors
Delivery Hero has refuted rumors that negotiations to sell parts of its Foodpanda business to Southeast Asian superapp Grab fell through.
The German food delivery giant stated this week that talks remain active, contrary to recent Malaysian media reports that a deal with Grab stalled.
Delivery Hero is exploring shedding Foodpanda operations in Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar, and Laos.
Grab deal still on track
Grab has been pegged as the lead bidder to consolidate the struggling Foodpanda units and cement Grab’s dominance as the top regional food delivery player.
If successful, any transaction would still need approval from Delivery Hero’s board and local regulators.
Delivery Hero’s public denial indicates Grab takeover discussions continue despite the unfounded chatter of a breakdown.
Foodpanda sale talks persist
Grab already holds a commanding 55% market share in Southeast Asia, per research firm Momentum Works. Folding in Foodpanda would further its lead and economies of scale.
Delivery Hero has also cut Foodpanda staff recently amid preparations for an exit. But the company asserts Grab sale deliberations are ongoing, with due diligence and negotiations progressing.
