Money Briefs: Foodpanda to buy HK assets of

Foodpanda to buy HK assets of

FRANKFURT • Online food delivery firm Foodpanda is acquiring the Hong Kong assets of US-based as it consolidates its position in key markets while shedding assets elsewhere.

Founded in 2012, Foodpanda, which is 49 per cent owned by German emerging market e-commerce investor Rocket Internet, was active in up to 40 markets a year ago but has pared this back to focus on 24 markets in Asia, Eastern Europe and the Middle East. The merger of Foodpanda with, which focused from the start on takeaway food delivery for office workers, promises to beef up Foodpanda's corporate business.


China's seeks Aussie listing

TOKYO •, a property search engine that lists real estate around the world for Chinese buyers, is seeking to go public in Australia as early as this year.

The firm is raising funds from institutional investors and strategic partners before selling shares in a public offering at the end of the year or in early 2017, chief executive officer Charles Pittar said yesterday. He declined to provide additional details such as the planned size of the offering.

Chinese buyers have been stocking up on property overseas as their wealth has surged, helping to boost real estate prices in cities including Sydney, New York and Tokyo. Outbound real estate investment more than doubled to US$35 billion (S$47 billion) last year from US$15 billion a year earlier, the latest Knight Frank estimate shows.


A version of this article appeared in the print edition of The Straits Times on March 19, 2016, with the headline 'Money Briefs: Foodpanda to buy HK assets of'. Print Edition | Subscribe