Delivery Hero to sell South Korean unit for $4 billion Woowa deal approval

Topics Food delivery | Global M&A | M&A

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.....

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