Germany-headquartered Delivery Hero, known for its food delivery subsidiary foodpanda, has agreed to sell its food delivery operations in Taiwan to Singapore-headquartered Grab for $600 million, the companies announced in a press release on Monday.

The transaction is subject to regulatory approvals and is expected to close in the second half of 2026. Delivery Hero plans to use the proceeds to repay debt and for general corporate purposes.

The sale includes Delivery Hero’s foodpanda platform in Taiwan and forms part of the company’s broader strategic review, supported by financial advisor JPMorgan Chase. The company said the divestment is intended to improve capital allocation and unlock shareholder value. “This divestment is a key first step in our ongoing strategic review,” said Delivery Hero Co-Founder and CEO Niklas Östberg.

Anthony Tan, Group CEO and Co-Founder of Grab, said the acquisition would mark its entry into Taiwan, its ninth market and first expansion outside Southeast Asia. The company expects to integrate foodpanda’s operations into its platform following completion of the deal.

The Taiwan business generated approximately $1.8 billion in gross merchandise value in 2025 and reported positive adjusted EBITDA before group cost allocations, according to Grab.

Both companies said operations would continue as normal until the transaction is completed. After closing, customers, merchants and delivery partners are expected to transition to Grab’s platform, with full migration targeted by early 2027.

Southeast Asia’s “super app” Grab earns revenue $3.37B in 2025, Malaysia remains biggest market