Taiwan regulator blocks Grab's purchase of Foodpanda delivery business in Taiwan
GRAB•Taiwan's Fair Trade Commission blocked Grab's proposed $600 million cash purchase of Delivery Hero's Foodpanda delivery business in Taiwan, saying competition concerns outweighed the deal's economic benefits.
1. Deal blocked
Taiwan's Fair Trade Commission said it blocked Grab's proposed purchase of Delivery Hero's Foodpanda delivery business in Taiwan, citing competition concerns. The regulator said the harm to competition outweighed the deal's overall economic benefits and that commitments offered by the companies were insufficient to address its concerns.
2. Grab responds
Grab said in March it would pay $600 million in cash for the business, in its first expansion outside Southeast Asia. The company said it was disappointed by the decision and would continue focusing its capital and resources on its regional growth roadmap.
