Delivery Hero to Sell Taiwan Business to Grab — Update

By Aimee Look and Kimberley Kao

Delivery Hero said it agreed to sell its delivery-platform business in Taiwan to Grab Holdings for $600 million in cash, as the German company slims down its portfolio to bolster its balance sheet.

The deal marks Delivery Hero's first move as part of a strategic review it launched last year and Grab's first foray outside of Southeast Asia.

Over the past year, Delivery Hero has been tussling with a declining share price, and in December said it had begun a review of its partnerships, assets and country operations.

Delivery Hero said Monday that net proceeds from the sale of its Foodpanda business in Taiwan will go toward repaying debt and will bolster its capital structure. The sale of Foodpanda is subject to regulatory approvals and is expected to close in the second half of 2026, the company said.

Shares in Delivery Hero were up 3.5% in European morning trading, in a session marked by broad-based losses across European stocks due to the conflict in the Middle East. Grab shares were down 1.1% in U.S. premarket trading.

Delivery Hero's sale of its Foodpanda business comes as it sharpens its geographic focus and seeks to turn a profit in key markets by the end of next year, its chief executive said in an interview earlier this month. Some of its key markets are Argentina, Spain, South Korea and the Middle East region.

For Grab, the deal is expected to contribute at least $60 million in incremental adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization, in 2028, it said.

The SoftBank-backed ride-hailing firm also reiterated its guidance of adjusted Ebitda of between $700 million and $720 million for this year.

"This is a natural next step for Grab, as our experience in Southeast Asia is a direct fit for this market," the company's chief executive, Anthony Tan, said in a statement. "Our longstanding expertise in managing complex delivery logistics for dense and high-traffic cities is well-suited for Taiwan's bustling cities."

Subject to the closing timeline, the transaction will be accretive to Grab's 2026 group revenue guidance of $4.04 billion to $4.10 billion, the company said.

The Southeast Asian tech company is signaling a continued appetite for acquisitions while maintaining high standards for deals. In February, it bought U.S. investing app Stash Financial for $425 million including debt to broaden its product suite.

Grab is targeting completion of the full platform migration of users, merchant-partners and driver-partners from Foodpanda Taiwan to the Grab app by early 2027.

Write to Aimee Look at aimee.look@wsj.com and Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

March 23, 2026 05:22 ET (09:22 GMT)