German business magazine said Grab could pay a little more than 1 billion euros (S$1.46 billion) for the unit. Read more at straitstimes.com.
BERLIN - Delivery Hero confirmed talks on a partial sale of its Asia business on Wednesday, adding that the deal’s value is still under negotiation.
The Berlin-based company plans to sell its activities under the Foodpanda brand in Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines and Thailand, it said in a statement. The group has said that it reached an adjusted profit before interest, tax, depreciation and amortisation in the first six months of the year, although it did not quantify it, after a loss of 323 million euros in the same period a year earlier.
Delivery Hero shares rose 7 per cent to 31.89 euros in Frankfurt trading on Wednesday, after earlier touching €33.82, the biggest intraday gain since November. The stock has declined 28 per cent this year.
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