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Supply Hero denies that Seize’s bid to purchase foodpanda ASEAN unit has collapsed, says talks nonetheless ongoing


Delivery Hero denies that Grab’s bid to buy foodpanda ASEAN unit has collapsed, says talks still ongoing

Late final week, it was reported that Seize’s bid for foodpanda’s Southeast Asian enterprise had fallen by, with the talks having collapsed on account of points regarding pricing. Nevertheless, German multi-national on-line meals ordering and meals supply firm Supply Hero, which owns the foodpanda model, denies that discussions had collapsed.

“There are market rumours that the negotiations for the potential sale have collapsed. We verify that the negotiations for the potential sale are ongoing,” Supply Hero mentioned by way of a press release.

Final September, Supply Hero mentioned it was in negotiations to promote the foodpanda model in Singapore, Malaysia, Philippines, Thailand, Cambodia, Myanmar and Laos. Malaysia, Philippines and Thailand. Whereas the Asia enterprise is Supply Hero’s largest market, development has dropped since pandemic lockdowns eased, and the corporate was mentioned to be seeking to give attention to profitability following years of heavy funding.

Delivery Hero denies that Grab’s bid to buy foodpanda ASEAN unit has collapsed, says talks still ongoing

At that time, it didn’t disclose the potential suitor, however German enterprise journal Wirtschaftswoche indicated that Seize, which beforehand took over Uber’s ASEAN operations, may pay somewhat multiple billion euros (RM5 billion) for the foodpanda ASEAN unit.

Later in November, Bloomberg reported that China’s Meituan was exploring a possible acquisition of foodpanda in these markets, and had held talks with Supply Hero relating to the matter.

Information of the potential acquisition of foodpanda by Seize raised considerations that the Singapore-based firm would create a monopoly within the p-hailing (supply of meals, drinks and parcels) section. Nevertheless, analysts have mentioned that anti-trust approval would be the largest hurdle for Seize’s potential acquisition of the enterprise

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