Withdrawal from seven markets
Delivery Hero wants to sell Asia parcel
September 20, 2023, 6:21 p.m
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The DAX group Delivery Hero could end part of its Asian activities for up to one billion euros. The food delivery company is currently negotiating to withdraw from several regions. The talks are still in an early phase and the price is open, it was said. But shareholders are already audibly breathing a sigh of relief.
The food supplier Delivery Hero wants to withdraw from parts of Southeast Asia. There are also negotiations about a possible sale of the business under the “Foodpanda” brand in seven countries in Southeast Asia. However, the talks are not yet at an advanced stage, it was said. Various points are still open. These are the countries Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos.
According to “Wirtschaftswoche”, US rival Grab is interested and could pay more than a billion euros for the “Foodpanda” business. Delivery Hero said the purchase price was still being negotiated. The Supervisory Board’s approval of a sale is also pending. The Asian business has been slowing Delivery Hero’s growth for some time.
The sales plans boosted the price of Delivery Hero shares. It rose by up to 13.5 percent but then came back. Since February, however, the price has roughly halved.