Talks to sell foodpanda have failed, says owner Delivery Hero
Sign up now: Get ST's newsletters delivered to your inbox
Delivery Hero was trying to sell the foodpanda business in Singapore, Malaysia, the Philippines, Thailand and other South-east Asian countries.
ST PHOTO: DESMOND WEE
Follow topic:
San Francisco - German food delivery group Delivery Hero said negotiations had failed regarding a potential sale of its foodpanda business in some markets in South-east Asia.
The company had confirmed on Feb 2 that talks were continuing to sell the business in Singapore, Malaysia, the Philippines, Thailand and other countries.
“The negotiations for the aforementioned potential sale terminated as the parties could not reach final agreement on the deal terms,” the company said.
Business in Asia, Delivery Hero’s largest market, has stagnated since pandemic-era lockdowns eased. In September, the company said it was in talks to sell the foodpanda brand in some countries in Asia.
It did not name the potential buyers. BLOOMBERG
