This follows an investigation commenced by the CCCS on Jan 10 into whether the possible transaction would infringe section 54 of the Competition Act 2024.
The Competition and Consumer Commission of Singapore (CCCS) had issued a set of interim measures directions (IMDs) to Foodpanda operator Delivery Hero and Grab Holdings on February 2 in relation to the latter’s possible acquisition of whole or part of the former’s business in Southeast Asia, including Singapore.
The statutory board of the Ministry of Trade and Industry notes in an April 1 media release that the IMDs ceased to have effect from Feb 23, after it was informed that the possible transaction had been abandoned.
