Delivery Hero confirms potential sale of foodpanda in SEA

The purchase consideration is still under negotiation.

Delivery Hero has confirmed that it is talks to sell of its food delivery arm foodpanda in selected markets in Southeast Asia.

The sale will potential affect markets covering 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,” the company said in a statement.