German firm in talks for sale of Foodpanda in Southeast Asia

BERLIN - German food delivery company Delivery Hero confirmed on Wednesday it had started talks on the potential sale of its Foodpanda brand, reported German news agency (dpa).

The Berlin-based company said negotiations regarding a potential sale of Foodpanda in selected Southeast Asia markets covering Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar and Laos were underway.

Delivery Hero noted that negotiations were in their preliminary stages and it was uncertain and subject to various open points whether this would lead to a definitive agreement.

If an agreement was reached, approval of the Supervisory Board, which was still outstanding, would need to be obtained for execution of any definitive agreement, Delivery Hero said. - BERNAMA-DPA