Investegate |Delivery Hero SE Announcements | Delivery Hero SE: Delivery Hero welcomes Woowa to the group investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
Article content
FRANKFURT German online takeaway food company Delivery Hero said on Wednesday it will have to take an impairment of up to 1.4 billion euros ($1.7 billion) on its takeover of South Korean food delivery app owner Woowa Brothers.
The transaction, which has just received regulatory clearance, was signed in December 2019. At the time Delivery Hero agreed to pay 1.7 billion euros in cash and 1.9 billion euros in shares based on a 20-day average share price of 47.47 euros.
We apologize, but this video has failed to load.
Try refreshing your browser, or Delivery Hero expects 1.4 bln euro impairment on Woowa acquisition Back to video
Delivery Hero to receive regulatory approval for its strategic partnership with Woowa
Delivery Hero to receive regulatory approval for its strategic partnership with Woowa
28 Dec 2020 by Press team
Following the announcement by the Korea Fair Trade Commission on December 28, Delivery Hero will receive conditional regulatory approval for the strategic partnership with Woowa Brothers Corp., South Korea s largest online food delivery platform
As part of the transaction, a joint venture will be established in Singapore to manage the foodpanda operations of the Delivery Hero Group and Woowa entities in Asia
The strategic partnership will enable both parties to leverage market insights, technology expertise and operational know-how across all verticals, including food delivery, fintech, quick commerce, and other business areas
DGAP-News: Delivery Hero SE / Key word(s): Regulatory Approval/Mergers & Acquisitions
Delivery Hero to receive regulatory approval for its joint venture with Woowa
28.12.2020 / 09:51
The issuer is solely responsible for the content of this announcement.
Following the announcement by the Korea Fair Trade Commission on December 28, Delivery Hero will receive conditional regulatory approval for the strategic partnership with Woowa Brothers Corp., South Korea s largest online food delivery platform
As part of the transaction, a joint venture will be established in Singapore to manage the foodpanda operations of the Delivery Hero Group and Woowa entities in Asia
The strategic partnership will enable both parties to leverage market insights, technology expertise and operational know-how across all verticals, including food delivery, fintech, quick commerce, and other business areas
Following the announcement by the Korea Fair Trade Commission on December 28, Delivery Hero will receive conditional regulatory approval for the strategic partnership with Woowa Brothers Corp., South Korea’s largest online food delivery platform.
South Korean Delivery Hero
As part of the transaction, a joint venture will be established in Singapore to manage the foodpanda operations of the Delivery Hero Group and Woowa entities in Asia.
The strategic partnership will enable both parties to leverage market insights, technology expertise and operational know-how across all verticals, including food delivery, fintech, quick commerce, and other business areas
The regulatory approval will be conditional on Delivery Hero divesting its South Korean subsidiary Delivery Hero Korea LLC (including “Yogiyo”) as well as on behavioural remedies applicable to the operation of Delivery Hero Korea LLC until completion of divestiture.