Uber, Naver show interest in taking over Baedal Minjok

Woowa Brothers, the operator behind Korea's largest food delivery platform Baedal Minjok, is now for sale as German parent firm Delivery Hero has begun restructuring its portfolio. Most speculation over potential buyers has pointed towards a consortium between Uber, which owns and operates Uber Eats global food and grocery delivery business, and Naver, the largest local online portal and major e-commerce shopping platform. According to industry officials on Monday, Delivery Hero appointed JPMorgan Chase earlier this month as lead manager for the sale of Woowa Brothers, and has distributed teaser materials to major strategic investors and private equity firms. The estimated price for Woowa Brothers is 8 trillion won ($5.8 billion), roughly double the price that Delivery Hero paid when it acquired the company in 2019. Among the various companies mentioned as potential buyers, Uber and Naver are considered the most likely candidates. Given the hefty price tag, speculation has also emerged that the two companies may form a consortium, although Naver said it is reviewing various options and nWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times