Grab seeks Taiwan approval for US$600 million foodpanda deal

Taipei, March 30 (CNA) Singapore-based ride-hailing and delivery giant Grab Holdings Ltd. has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero's foodpanda in a deal valued at about US$600 million.

Grab said in a statement Monday that it submitted the filing to the Taiwan Fair Trade Commission on March 27, with the transaction subject to regulatory review and approval.

The company said its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved.

Grab, which is listed on the Nasdaq, noted in the filing that U.S.-based Uber Technologies holds about 13 percent of its ordinary shares but less than 4 percent of voting rights, and does not participate in daily operations.

Uber's board representative has recused themselves from decisions related to Taiwan, Grab said.

Other major investors include SoftBank, which holds a 9.8 percent equity stake and 2.6 percent of voting rights, and Toyota Motor Corp., with a 5.4 percent equity stake and 1.4 percent of voting rights.

Grab said it has no known Chinese institutional investor holding a stake exceeding 5 percent.

If approved, Grab expects to complete the transaction in the second half of 2026 and fully integrate the platforms by the first half of 2027 by bringing foodpanda users to its app.