Grab Acquires Foodpanda Taiwan for $600 Million

Grab, the Singapore-based superapp dominant in Southeast Asia's ride-hailing and delivery sectors, announced on Monday an agreement to acquire Delivery Hero's Foodpanda business in Taiwan for 600 million dollars in cash. The deal marks Grab's first expansion beyond Southeast Asia and is expected to close in the second half of 2026, pending regulatory approvals, with full migration of users, merchants, and drivers to Grab's platform targeted for early 2027.

The acquisition comes about a year after Uber Technologies abandoned its bid to buy Foodpanda's Taiwan operations, which regulators blocked over antitrust concerns. Taiwan's Fair Trade Commission had worried that combining Uber Eats, with a 48 percent market share, and Foodpanda, at 52 percent from 2022 to 2023, would create a near-monopoly controlling roughly 90 percent of the market and could lead to reduced competition and higher prices. In contrast, Grab's entry would give the combined entity just over 50 percent of the market, allowing it to challenge Uber Eats as a viable competitor without dominating the sector.

Grab's leadership views Taiwan as a strategic fit for its operations. "This is a natural next step for Grab,...