Delivery Hero in talks for partial sale of Foodpanda, with Grab a potential buyer: Report

A German business magazine said Grab could pay a little more than 1 billion euros for the Foodpanda business in Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines and Thailand. - ST

BERLIN (Reuters): Delivery Hero is in advanced talks on a partial sale of its Asia business, the Wirtschaftswoche business magazine reported on Wednesday (Sept 20), saying Singapore's Grab could pay a little more than 1 billion euros (US$1.07 billion).

The Berlin-based company could sell its activities under the Foodpanda brand in Singapore, Cambodia, Malaysia, Myanmar, the Philippines and Thailand, according to Wirtschaftswoche, which cited sources familiar with the matter.