foodpanda parent denies reports of SEA business sale talks have soured
The sale was announced in September last year.
Delivery Hero, the parent company of food delivery giant foodpanda has denied rumours that negotiations of the potential sale of its Southeast Asian business have collapsed.
“We confirm that the negotiations for the Potential Sale are ongoing, and, thus, the rumours are false. In any event, if an agreement is reached, approval of the Supervisory Board, which is still outstanding, will need to be obtained for the 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,” Delivery Hero said in a statement.
The statement came after some news outlets reported that talks over the potential sale of the business had collapsed. The reports also stated that super app Grab is in talks with Delivery Hero to acquire foodpanda.
Delivery Hero first announced the sale of its delivery arm in SEA in September last year. The sale will potentially affect markets covering Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar, and Laos.