The potential sale of the Foodpanda business in Malaysia is drawing nearer. The Frankfurt-listed Delivery Hero may finalise the sale of its Foodpanda operations in Malaysia by December this year.
Delivery Hero is reportedly looking to divest its Foodpanda operations in seven Southeast Asian markets, with Singapore-based Grab Holdings Ltd rumoured as a potential purchaser, according to NST.
The other markets in question include Cambodia, Laos, Myanmar, the Philippines, Singapore, and Thailand.
According to NST sources, many of the staff at Foodpanda Malaysia are unaware of the possible sale, but some have begun preparing for the possibility and searching for new employment opportunities.
Foodpanda, the second-largest food delivery company in Southeast Asia, currently holds a 30-40% market share in the food delivery sector across the countries it operates in.
A couple of months ago, Delivery Hero confirmed its discussions about selling its Foodpanda business in the region, as part of its strategy to focus on profitability.
German business magazine Wirtschaftswoche first reported this development in late September, mentioning Grab as a potential buyer willing to invest more than EUR1 billion (~RM5.03 billion) to acquire the online food and grocery delivery platform across all seven markets. However, Delivery Hero has not yet confirmed the deal’s value.
