Grab Holdings Limited agreed to acquire Delivery Hero’s foodpanda delivery business in Taiwan for $600 million in cash on a cash-free, debt-free basis, marking expansion into its 9th market outside Southeast Asia. The transaction is expected to contribute at least $60 million in incremental Adjusted EBITDA in 2028 and is accretive to 2026 revenue and EBITDA guidance, with closing in H2 2026 subject to approvals.
Key takeaways
Grab to acquire foodpanda Taiwan from Delivery Hero for $600 million cash (cash-free, debt-free, customary adjustments)
foodpanda Taiwan generated ~$1.8 billion GMV in 2025, profitable on adjusted EBITDA (pre-group costs)
Closing expected second half 2026, subject to regulatory approvals and customary conditions
Reiterates 2026 Adjusted EBITDA guidance $700 million to $720 million
Reiterates 2026 Group Revenue guidance $4.04 billion to $4.10 billion
Expected to contribute at least $60 million incremental Adjusted EBITDA in 2028