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Insulated food bags branded with the logo of Foodpanda, a meal-delivery service operated by Delivery Hero, sit at the company’s operations center in Bangkok, Thailand, on Friday, March 16, 2018.\u00a0<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n
German food delivery giant Delivery Hero<\/a> announced it has ended negotiations with an undisclosed third party regarding the potential sale of its Foodpanda business in selected Southeast Asian markets, where it is attempting to downsize.\u00a0<\/p>\n The company first confirmed it was in talks to sell business segments in Singapore, Malaysia, the Philippines, Thailand, Cambodia, Myanmar, and Laos in September<\/a>, around the same time it embarked on another wave of layoffs<\/a> in an effort to “streamline operations” and become “more agile.”\u00a0<\/p>\n In a press release<\/a> on Wednesday, Delivery Hero said the relevant parties failed to agree on the terms.<\/p>\n “The decision to terminate negotiations after months of discussions was taken after careful consideration,” said Niklas \u00d6stberg, CEO and co-founder of Delivery Hero.<\/p>\n In its latest statement, the company did not name any prospective buyers. However, German business outlet Wirtschaftswoche<\/a> named its key competitor Grab<\/a>