Delivery Hero to divest Taiwan food delivery business for $600m

Delivery Hero has signed an agreement to sell its Foodpanda operations in Taiwan to Southeast Asian ‌ride-hailing and delivery company Grab for $600m in cash. In a statement, Delivery Hero said that the deal forms the first step in an ongoing strategic review. The company plans to use the net proceeds from the deal to repay debt and for general corporate purposes, including strengthening its capital structure. The transaction is expected to close in the second half of this year, subject to regulatory a ...