10th Mar 2025 08:41
Deliveroo PLC - London-based food delivery - Sells assets from its Hong Kong operations to Singapore-based rival foodpanda as part of a decision to shutter the business. Deliveroo Hong Kong has nominated liquidators to manage the closure of the business and the remaining assets. Deliveroo says "several dynamics specific to the Hong Kong market" led the board to its decision, without specifying these issues. The Hong Kong operation represented 5% of group gross transaction value in 2024 and was loss-making, Deliveroo says. It doesn't say how much foodpanda paid for the assets its bought.
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By Tom Waite, Alliance News editor
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