According to Bloomberg, Meituan, a major food delivery app in China, has shown interest in acquiring the business operations of Delivery Hero’s Foodpanda brand in Southeast Asia. This comes after previous reports suggesting that Grab may be the potential buyer.
Delivery Hero, a German company that owns Foodpanda, had previously announced its intention to sell its business in several Southeast Asian countries, including Singapore, Cambodia, Laos, Malaysia, Myanmar, the Philippines, and Thailand, for an estimated value of 1 billion euros. However, the buyer was not specified, with simultaneous rumors pointing to Grab.
Meituan has plans to expand its business beyond China and has recently launched KeeTa, a food delivery brand catering specifically to the Hong Kong market. It is therefore possible that Meituan intends to expand its operations in Southeast Asia through the acquisition of Foodpanda.
Representatives from Meituan and Foodpanda have declined to comment on this news report.
TLDR: Meituan, a leading food delivery app in China, is reportedly interested in acquiring Delivery Hero’s Foodpanda brand in Southeast Asia. While rumors suggest Grab might be the buyer, Meituan’s plans for regional expansion and recent launch of KeeTa in Hong Kong indicate it could be a potential contender. Neither Meituan nor Foodpanda have provided any comments on the matter.
Leave a Comment