Grab to Buy Delivery Hero’s Taiwan Business for $600 Million (2)

Grab Holdings Ltd. agreed to buy Delivery Hero SE’s Foodpanda operations in Taiwan for $600 million, a deal that marks its first foray outside of its Southeast Asian base.

The cash acquisition will allow Grab to expand into 21 cities across Taiwan, the Singapore-based ride-hailing and delivery company said in a statement on Monday. Grab expects the transaction to be completed in the second half, subject to regulatory approvals.

The purchase will give Grab a presence on the island of about 23 million people, helping it to expand beyond its intensely competitive home market. Grab has seen growth slow ...