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<h2>Last year, Delivery Hero announced plans to sell part of its Southeast Asian food delivery business</h2>
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<p><p>The company planned to sell its foodpanda business in Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar, and Laos due to declining growth following the lifting of COVID-19 lockdowns.</p>
<p>However, it seems those plans are being put on hold, with the German company retaining ownership of the foodpanda brand, at least for now.</p>
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<h2>Delivery Hero chief executive officer Niklas Ostberg recently said he is happy to keep foodpanda in Southeast Asia under Delivery Hero&#8217;s umbrella</h2>
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<p>&#8220;I&#8217;m more than happy to hold onto it forever. The business has turned breakeven now, [and] that&#8217;s good [that] it&#8217;s not a drag on our profitability anymore, that&#8217;s nice,&#8221; Ostberg told CNBC in an interview on Wednesday, 14 February.</p>
<p>A report by&nbsp;<a target="_blank" rel="nofollow noopener" href="https://www.cnbc.com/2024/02/14/delivery-hero-happy-to-keep-asia-unit-foodpanda-forever-ceo-says.html">CNBC</a>&nbsp;suggests that this means he&#8217;s confident in remaining committed to the business and doesn&#8217;t feel an urgent need to sell it.</p>
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<h2>This update from Ostberg comes after Delivery Hero refuted rumours about failed sales negotiations earlier this month</h2>
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<p><p>According to the rumours, negotiation talks for the potential sale of the business had fallen through, as reported by the <a href="https://www.nst.com.my/business/corporate/2024/02/1008772/grabs-bid-foodpandas-southeast-asia-business-collapses-bttv">New Straits Times</a>.</p>
<p>After the rumours caused a sharp drop in stocks, a company representative released a statement clarifying that selling foodpanda was an option that was still on the table. The statement did not name any buyers, but said that talks were still ongoing.</p>
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<h2>Despite the recent update, Delivery Hero may still consider selling foodpanda in the future</h2>
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<p><p>Ostberg clarified that the company is still open to potential buyers and would consider offers that exceed foodpanda&#8217;s long-term value.</p>
<p>&#8220;[foodpanda] will be one of our faster-growing regions. There&#8217;s still so much growth potential there, [and] we very much like the asset. I guess we always have to act rational towards investors if someone offers a price that is higher than what we think we can generate for it over the years.</p>
<p>&#8220;By no means are we forced to sell, we are not building a business to sell it, we are building a business because we love a good service. We believe we can generate good return for our shareholders there. We still have to act rational if someone offers a price that we feel is good value,&#8221; he said, as quoted by CNBC.</p>
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Is foodpanda Getting Sold Off In Malaysia & Southeast Asia? Its Parent Company Says No

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Is foodpanda Getting Sold Off In Malaysia & Southeast Asia? Its Parent Company Says No

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