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Delivery Hero SE has confirmed that there are negotiations regarding a potential sale of its Foodpanda business in selected markets in Southeast Asia.
The Southeast Market includes Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos.
“Delivery Hero confirms negotiations with several parties regarding a potential sale of its foodpanda business in selected Southeast Asia markets. Any discussions or plans are in their preliminary stages,” said a foodpanda spokesperson.
It is unknown and dependent on several unresolved issues whether the first rounds of the discussions will result in a binding agreement.
The acquisition price for the whole deal is still up for discussion. In any event, if an agreement is reached, it will be necessary to acquire the Supervisory Board’s still-pending approval before any formal agreement can be signed.
If approved, the deal is anticipated to be subject to several requirements, such as receiving the required regulatory clearances in the pertinent jurisdictions.
Meanwhile, a Reuters report citing sources said Singapore’s Grab could be a potential buyer at a little more than 1 billion euros (US$1.07 billion).
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