Grab to Enter Taiwan in $600M All-Cash Deal for Delivery Hero’s foodpanda Business

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MarketBeat

Mon, March 23, 2026 astatine 10:03 AM CDT 6 min read

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Grab agreed to get 100% of Delivery Hero’s foodpanda Taiwan successful an all‑cash transaction valued astatine $600 million connected a cash‑free, debt‑free basis, taxable to regulatory approvals and expected to adjacent successful H2 2026, with Delivery Hero providing modulation enactment services.
The acquisition makes Taiwan Grab’s ninth market and archetypal extracurricular Southeast Asia, bringing a compact $1.8 cardinal GMV concern crossed 21 high‑density cities and expanding Grab’s deliveries addressable marketplace by astir 20% (adding implicit $40 billion to its ~ SEA base).
Grab expects the woody to beryllium accretive to its 2026 gross guidance, targets a afloat level migration by early 2027 (with front‑loaded integration costs successful 2026–27), and forecasts the Taiwan concern volition beryllium profitable by precocious 2027 and lend astatine slightest $60 million of incremental Adjusted EBITDA successful 2028.
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Grab (NASDAQ:GRAB) executives outlined plans to participate Taiwan done an statement to get Delivery Hero’s foodpanda transportation concern successful the country, describing the transaction arsenic a large enlargement of its deliveries accidental and a determination into its archetypal marketplace extracurricular Southeast Asia.

On the call, absorption said Grab signed an statement to get 100% of foodpanda Taiwan from Delivery Hero successful an all-cash transaction valued astatine $600 million. Group CFO Peter Oey said the acquisition is connected a cash-free and debt-free basis, taxable to customary closing adjustments, and values the concern astatine a 0.33x 2025 EV/GMV multiple.

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The transaction remains taxable to customary closing conditions and applicable regulatory approvals. Grab expects closing successful the second fractional of 2026. The institution besides entered into a support services agreement nether which Delivery Hero volition supply modulation enactment services aft closing.

Co-Founder and CEO Anthony Tan framed the acquisition arsenic some a strategical and operational fit, citing Taiwan’s municipality density, income levels, and user behavior. Tan said Taiwan becomes Grab’s ninth market and its first extracurricular Southeast Asia, and emphasized taste familiarity and connectivity betwixt Taiwan and Southeast Asian communities.

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