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Singapore Competition Watchdog Investigates Potential Grab, Delivery Hero Deal

The Competition and Consumer Commission of Singapore investigates potential Grab, Delivery Hero deal. Grab and foodpanda control 91% of Singapore's food delivery market. Investigation closed after Delivery Hero abandons plans for sale and Grab ends pursuit of the deal.

The Competition and Consumer Commission of Singapore (CCCS) has revealed that it conducted an investigation into the potential acquisition talks between Grab Holdings and Delivery Hero. The regulator expressed concerns about the impact on competition in the food delivery market.


Delivery Hero, a German company, had been exploring options to divest its foodpanda business in certain Southeast Asian markets. Media reports in September suggested that Grab, a Singapore-based company, could be a potential buyer.


According to a report by research firm Momentum Works, Grab and foodpanda currently dominate about 91% of Singapore's $2.5 billion food delivery market. Grab holds a significant 63% market share on its own.


The CCCS initiated its investigation into the potential tie-up in early January. However, the investigation was closed on February 23 after Delivery Hero decided to abandon its plans for a potential sale. Grab also confirmed that it was no longer pursuing the deal.


The talks between Grab and Delivery Hero had reportedly collapsed in early February, as per media reports.

 
  • The Competition and Consumer Commission of Singapore investigates potential Grab, Delivery Hero deal

  • Grab and foodpanda control 91% of Singapore's food delivery market

  • Investigation closed after Delivery Hero abandons plans for sale and Grab ends pursuit of the deal


Source: REUTERS

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