Competition concerns derail Grab-Delivery Hero deal

CCCS issued Interim Measures Directions over the planned acquisition.

The Competition and Consumer Commission of Singapore (CCCS), on 1 April, announced that it issued Interim Measures Directions (IMDs) over Grab's planned acquisition of Delivery Hero on 2 February.

The IMDs ceased on 23 February when the commission discovered the transaction was abandoned.

The IMDs directed the parties not to engage in actions that could lead to or contribute to the following:

The integration of the parties’ OFOD services businesses in Singapore;
The effecting of any agreement between the Parties (or their related entities) that would materially impair the ability or incentive of either Party to compete independently in the OFOD services in Singapore; or
Materially impact the viability and saleability of Delivery Hero’s Foodpanda businesses in Singapore, such as to prejudice CCCS’s ability to direct a divestment subsequently if necessary.

The IMDs also prohibit Grab and Delivery Hero from making payments to each other regarding a Singapore merger.

CCCS launched investigations on 10 January, suspecting the potential deal could significantly reduce competition in Singapore's online food delivery market.

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