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foodpanda's parent company confirms talks for sale of food delivery biz in SEA

foodpanda's parent company confirms it is in talks with potential buyers of its food delivery arm in selected Southeast Asia markets.
Foodpanda PH bares new corporate name
File photo: foodpanda

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In a statement on September 20, Delivery Hero confirmed "negotiations regarding a potential sale of its foodpanda business in selected Southeast Asia markets covering Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar, and Laos."

It also noted in a statement on Monday that "Any discussions or plans are in their preliminary stages."

Rappler said in an article that the confirmation came after a September 20 report by German business magazine Wirtschaftswoche that said the company is working on a "partial withdrawal" from Asia. It also named rival Grab as one of the possible buyers at a price of "more than one billion euros."

Meanwhile, markets in Bangladesh, Hong Kong, Pakistan, and Taiwan would remain with Delivery Hero for now, the report added.

Following the Wirtschaftswoche report, CNBC said on September 22 that foodpanda implemented its third round of layoffs following those conducted in September 2022 and February 2023. The site also said that it reached out to Grab regarding potentially buying Foodpanda, but the company declined to comment yet.

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