Singapore: Adopted CCCS interim measures in investigation into proposed acquisition of Delivery Hero's operations by Grab Holdings

On 2 February 2024, the Competition and Consumer Commission of Singapore (CCCS) issued Interim Measures Directions (IMDs) in the investigation into the potential acquisition of Delivery Hero SE's business Foodpanda GmbH (Germany) by Grab Holdings Inc. The IMDs are intended to ensure that the market remains open and competitive, pending the conclusion of the investigation. The IMDs provided instructions to avoid any actions that could harm the investigation or the authority's ability to provide remedies under the Competition Act. The CCCS noted that the merger could reduce competition in the market for online food ordering and delivery (OFOD) services in Singapore, potentially resulting in a combined market share of approximately 91%. To prevent premature integration or actions that could harm market competitiveness, the IMDs have outlined specific prohibitions. These include not sharing confidential business information, not taking any action that impairs either party's ability to compete independently, and not making any moves that could make Delivery Hero's Foodpanda business less viable or saleable. Both parties were instructed to maintain independent operations and refrain from encouraging the migration of customers, delivery riders, or food and beverage merchants between platforms.