Delivery Hero Says Talks to Sell Foodpanda Have Failed (2)

German food delivery group Delivery Hero SE said negotiations to sell part of its Foodpanda business in some markets in Southeast Asia have failed after it couldn’t reach a final agreement on deal terms.

The company had confirmed on Feb. 2 that talks to sell the business in Singapore, Malaysia, the Philippines, Thailand and other countries were continuing. Those discussions have ended, Delivery Hero said Wednesday in a statement.

Business in Asia, Delivery Hero’s largest market, has stagnated since pandemic-era lockdowns eased. In September, the company said it was in talks to sell the Foodpanda brand in some countries ...