Germany's Delivery Hero To Sell Foodpanda Taiwan For US$600m To Grab

BERLIN, March 23 (Bernama-dpa) -- German food delivery company Delivery Hero has inked a deal to sell its platform business in Taiwan to Singapore's Grab for US$600 million, the company said on Monday, reported German Press Agency (dpa).

Delivery Hero intends to use the net proceeds from the cash- and debt-free sale of Foodpanda Taiwan "to repay debt and for general corporate purposes", the Berlin-based company said in a statement.

Grab Holdings chief executive and co-founder Anthony Tan described the purchase as "a natural next step" for the tech company, whose app offers ride-hailing, food delivery and digital payment services across Southeast Asia. 

"We see a significant opportunity to grow the food and groceries delivery scene" in Taiwan, he was quoted as saying in the statement.

The transaction, which is subject to regulatory approvals, is expected to be closed in the second half of 2026.

Delivery Hero's Taiwan business generated a gross merchandise value of €1.5 billion (US$1.7 billion) and positive adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) in fiscal 2025, the company said.

-- BERNAMA-dpa