Uber Becomes Largest Shareholder in Delivery Hero Amid Baedal Minjok Acquisition Talks
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- Uber has increased its stake in Delivery Hero to 19.5%, becoming its largest shareholder.
- This comes as Uber and Naver Corp. reportedly negotiate to acquire Delivery Hero's stake in South Korea's Baedal Minjok for $5.37 billion.
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Uber has increased its stake in Delivery Hero, becoming the largest shareholder. This move occurs as Uber and Naver Corp. are reportedly in talks to acquire Delivery Hero's stake in Baedal Minjok, South Korea's largest food delivery app, which is operated by Woowa Brothers.
SEOUL, May 19 (Yonhap) -- Uber has acquired an additional stake in Delivery Hero, becoming the company's largest shareholder, according to the German company Tuesday.
The Berlin-based delivery platform said in a release that Uber has increased its holdings to 19.5 percent of issued capital, with a further 5.6 percent in options.
"Delivery Hero welcomes Uber's additional investment as a further endorsement of its platform and Everyday App strategy," the company added.
Uber does not intend to increase its stake in Delivery Hero to 30 percent, media reports said, citing the company's regulatory filing.
The additional investment from the U.S. ride-hailing app comes amid local reports saying that Uber and South Korea's Naver Corp. are seeking to take control of Baedal Minjok, the largest food delivery app in the country.
The app's operator, Woowa Brothers, is owned by Delivery Hero.
Earlier in the day, Naver said it has yet to reach a decision on the acquisition in a regulatory filing, but noted the company is "exploring various options to strengthen business competitiveness."
Uber and Naver are reportedly seeking to form an 8-to-2 consortium and are said to have proposed to Delivery Hero 8 trillion won (US$5.37 billion) to purchase its entire stake in Woowa Brothers.
The German company is reportedly seeking to sell Woowa Brothers and is said to have appointed JP Morgan Chase & Co. as the sales adviser.
Delivery Hero acquired an 87 percent stake in Woowa Brothers for about US$4 billion in 2019.
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The acquisition of Woowa Brothers by Uber and Naver will be completed.
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Offene Fragen
- Will the acquisition of Baedal Minjok by Uber and Naver be finalized?
- What is Delivery Hero's final decision regarding the sale of Woowa Brothers?
- What are the specific terms of the proposed consortium between Uber and Naver?
- How will Uber's increased stake affect its future relationship with Delivery Hero?
