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Delivery Hero, owner of foodpanda, confirms talks on partial sale of Asian business

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BERLIN: Delivery Hero confirmed talks on a partial sale of its Asia business on Wednesday (Sep 20), adding that the deal's value is still under negotiation. The Wirtschaftswoche business magazine first reported the news earlier in the day, saying Singapore's Grab could pay a little more than 1 billion euro

BERLIN: Delivery Hero confirmed talks on a partial sale of its Asia business on Wednesday , adding that the deal's value is still under negotiation.

The Berlin-based company plans to sell its activities under the foodpanda brand in Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines and Thailand, it said in a statement. Delivery Hero has been focusing on reaching profitability while maintaining growth as investor confidence in the company started to wane after a pandemic-driven boost.

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