Lieferando SE, Germany's Leading Food Delivery Company, Denies Report of Failed Discussions to Sell Part of Its Foodpanda Business in Asia, Shares Recover from Earlier Losses on Friday.
"There are market rumors that the negotiations regarding the potential sale have failed," Lieferando stated in a release. "We confirm that negotiations regarding the potential sale are still ongoing."
A report by the Malaysian newspaper New Straits Times on Friday claimed that talks about the sale of the Foodpanda brand in several Southeast Asian markets to Singapore's Grab Holdings Ltd. had failed.
The newspaper bases this on informed sources. A representative of Grab declined to comment. On the Frankfurt stock exchange, Delivery Hero's shares had fallen by 13% to 19.56 euros before they slightly recovered at 1:27 am, registering a decline of 9%.
This marked the biggest intraday decline since February 2022. Delivery Hero's Asian business, the company's largest market, has faltered since the easing of lockdown measures in the pandemic.
In September, the company announced that it was conducting discussions about the sale of the Foodpanda brand in countries such as Singapore, Malaysia, the Philippines, and Thailand.
The potential buyers were not named. Bloomberg reported in November that China's Meituan is considering a potential acquisition of Foodpanda in these markets.
