Line Man Wongnai, the Thailand-based food delivery platform is in negotiations for the acquisition of the local unit of Foodpanda.
Currently, Delivery Hero, the German online food-delivery service provider owns Foodpanda Thailand. Established in 2020, Line Man Wongnai came about from the merger of delivery service firm Line Man and Thai restaurant review platform Wongnai.
Citing people familiar with the matter, the news agency reported that the food delivery platform was earlier valued at $100M, but due to market headwinds, the deal amount could be reduced. A source familiar with the development added that the deal is yet to be finalised and talks could still fail.
