Singapore regulator reviewed Grab’s potential Foodpanda deal

Photo credit: Grab

The Competition and Consumer Commission of Singapore (CCCS) was said to have reviewed the now-collapsed acquisition of Foodpanda by Grab in January, Reuters reported.

It was reported in September 2023 that Delivery Hero was considering selling part of its Southeast Asian operations, including the Foodpanda brand, in which Grab was a prospective buyer.

In February this year, Delivery Hero said it exited discussions with “the main negotiating counterpart.” In its earnings call in the same month, Grab said that it had no plans to pursue any acquisitions.

The CCCS discontinued its review of the deal following these announcements.

If an acquisition of Foodpanda had taken place, it would have further fortified Grab’s position in Southeast Asia’s food delivery market, where the latter already holds a 55% market share.

Grab is already under the radar of the CCCS for its Trans-cab acquisition, which would give the ride-hailing firm access to over 2,200 taxis and more than 300 private-hire vehicles. It announced its planned acquisition of the taxi operator in July 2023.

The deal is still under in-depth review by the CCCS to assess its effect on the Singapore market.

See also: Does combining Grab with asset-heavy Trans-cab make sense?