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Foodpanda's parent company Delivery Hero is expected to complete the sale of its business to Grab Holdings by the end of this year, according to rumors. German business magazine WirtschaftsWoche earlier reported that Grab Holdings may pay more than 1 billion euros (RM5 billion) to acquire Foodpanda's business in seven markets.
Grab Holdings And Delivery Hero Fail To Reach Agreement
However, it was recently rumored that the acquisition plan is expected to drag on until the first quarter of 2024 as valuation talks between Grab Holdings and Delivery Hero, Foodpanda's parent company, could not reach an agreement.
According to sources cited by the Business Times, Grab Holdings and Delivery Hero have failed to reach an agreement on the purchase price. The sources pointed out that the price offered by the seller to Grab Holdings was considered to be too high and could not be agreed upon.
