Over the years, especially during the Covid-19 outburst, plenty of Malaysians have been dependent on food delivery services to help satisfy their cravings and make life easier. With that said, Foodpanda and Grab is no stranger to Malaysians as they’ve made quite an impact in our lives.
“Ongoing negotiation”, Parent company of Foodpanda in talks with Grab to partially sell their business
According to Singapore based news channel, Channel News Asia has reported that Delivery Hero, the parent company of Foodpanda, is currently in talks with Grab to partially sell their business. In a statement, it was said that the Germany-based company is looking to sell its activities under Foodpanda in the South-East Asia region, primarily in Singapore, Malaysia, Cambodia, Philippines, Laos, Myanmar and Thailand.
Source: Provided to Wau Post
On the other hand, business magazine, The Wirtschaftswoche revealed that Singapore’s Grab is looking at paying about $1 billion Euros (RM4.9billion) to acquire its business. However, it’s worth noting that Grab has yet to confirm on the matter and the negotiation process is still underwork.
While it’s apparent that the delivery services in Asia is Delivery Hero’s main revenue driver, reports have showed that growth has slowed down immensely ever since the lockdown restrictions have eased. That being said, the company has also expressed its focus on profitability after investing heavily for years.
Source: Malay Mail
As of now, the fate of Foodpanda in the Asia region remains unchanged, but CNA has reported that the parent company of Foodpanda, has confirmed that discussions are currently ongoing.
“Any plans or discussions ongoing are still in its preliminary stages”, it said.
Tap here to give us a ‘Like’ on Facebook and stay up-to-date on the latest news and stories!
Also read: Foodpanda Malaysia enhances rewards and protection benefits for delivery partners and their families
