Published: September 20, 2023 at 11:32 am ET
German food delivery company Delivery Hero said it is in talks about the possible sale of its foodpanda business in select markets in Southeast Asia.
Delivery Hero made the announcement on Wednesday, saying the sale would be for the business in Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos, although it did not reveal who it is in talks with.
German…
By Mauro Orru
German food delivery company Delivery Hero said it is in talks about the possible sale of its foodpanda business in select markets in Southeast Asia.
Delivery Hero made the announcement on Wednesday, saying the sale would be for the business in Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos, although it did not reveal who it is in talks with.
German business magazine WirtschaftsWoche first reported that the group was negotiating the divestment for more than €1 billion ($1.07 billion), citing Singapore’s Grab as a potential buyer.
“Negotiations are in their preliminary stages and it is uncertain and subject to several open points whether this will lead to a definitive agreement,” Delivery Hero said.
The company added that the transaction price is still under negotiation.
At 1528 GMT, Delivery Hero shares were trading 7.6% higher at €32.06.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
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