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Delivery Hero gets $4b Woowa deal approval, must sell South Korean unit Reuters, Seoul/Munich Reuters, Seoul/Munich Germany's Delivery Hero will sell South Korean food delivery app Yogiyo as part of the conditions for regulatory approval of its $4 billion takeover of top South Korean food delivery app owner Woowa Brothers. The sale clears a major hurdle for Delivery Hero in gaining the dominant position in the world's third-largest online food delivery market, as competition heats up amid accelerated demand triggered by the coronavirus pandemic. D...

Coupang and Naver named as strong candidates to acquire Yogiyo Posted : 2020-12-29 17:13 Updated : 2020-12-29 19:45 Scooters of Delivery Hero's food delivery business Yogiyo are parked in front of a restaurant in Seoul on June 2. / Korea Times file By Kim Jae-heun Coupang and Naver have emerged as strong candidates to take over Yogiyo, the country's No. 2 food delivery player, after the top antitrust watchdog ordered Delivery Hero to sell the delivery service. The Korea Fair Trade Commission (KFTC) said last month that it will only recognize the merger between Delivery Hero and Woowa Broth...

Delivery Hero decides to sell Korean unit Posted : 2020-12-28 16:56 By Nam Hyun-woo Fair Trade Commission (FTC) Chairwoman Joh Sung-wook speaks during a press conference on the conditional approval of Delivery Hero's acquisition of Woowa Brothers at the antitrust agency's headquarters in Sejong, Monday. Courtesy of FTC Delivery Hero (DH), a German food delivery service firm, said Monday it will accept the Fair Trade Commission's (FTC) conditional approval for its acquisition of Korea's top food delivery app operator, Woowa Brothers which runs Baedal Minjok. The FTC ordered DH to sell its Ko...

[Newsmaker] Delivery Hero to sell Yogiyo under watchdog’s antitrust policy DH chooses to ditch runner-up apps to acquire market champion Baemin | The Fair Trade Commission Chairperson Joh Sung-wook. (FTC) Germany-based Delivery Hero will concede its food delivery services Yogiyo as a cost of acquiring Woowa Brothers, the operator of market champion app Baemin, officials said Monday. The apparently reluctant decision came after South Korea’s antitrust watchdog disapproved the monopolistic merger of the top two apps in the fast-growing food delivery market. “We request that the Fair Tra...