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South Korea makes unit sale condition for Delivery Hero's US$4 billion Woowa deal Toggle share menu Advertisement South Korea makes unit sale condition for Delivery Hero's US$4 billion Woowa deal South Korea's antitrust regulator said on Monday Delivery Hero must sell its Yogiyo subsidiary to win approval for a US$4 billion takeover of Woowa Brothers that would have given it a near monopoly in the country's food delivery market. FILE PHOTO: The Delivery Hero's logo is pictured at its headquarters in Berlin, Germany, August 18, 2020. REUTERS/Fabr...

Germany's Delivery Hero will sell South Korean food delivery app Yogiyo as part of 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. Berlin-based Delivery Hero agreed last year to buy Woowa for whom the buyout is a lifeline in an intensely competitive market. The Korea Fair Trade Commission (KFT...

2-MIN READ Delivery Hero Gets $4 Billion Woowa Deal Approval, Must Sell South Korean Unit 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. FOLLOW US ON: 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 gaini...

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3 Min Read SEOUL/MUNICH (Reuters) - 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. Slideshow ( 2 images ) 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. Delivery Hero agreed last year to buy Woowa in a buyout that throws it a lifeline in an intensely co...