Uber Nears Acquisition of Baemin Parent Company Delivery Hero for 21 Trillion Won

Competition Among Global Delivery Giants Accelerates

Uber is set to acquire Delivery Hero for approximately 12.5 billion euros (around 21 trillion won). This deal is expected to accelerate the restructuring of the global food delivery market and push forward consolidation centered around major players.

On July 15 (local time), the Financial Times (FT), citing multiple sources, reported that Delivery Hero is likely to announce the acquisition deal with Uber as early as July 16. Uber is expected to pay about 41 euros per share.

Under the terms of this transaction, Delivery Hero plans to separate and sell off some of its operations. In order to reduce overlapping business areas with Uber and alleviate regulatory scrutiny, the company is considering selling Yemeksepeti, its Turkish operation, as well as various businesses in Europe to U.S. investment firms.

Uber and Delivery Hero have been in acquisition talks since May. According to the FT, at that time Dara Khosrowshahi, Uber's CEO, proposed an offer of 33 euros per share to the Delivery Hero board. This amounted to a company-wide valuation of about 10 billion euros.

If the deal goes through, Uber will acquire Talabat and HungerStation in Saudi Arabia, significantly expanding its operations in the Middle East. Baemin, the Korean food delivery app previously acquired by Delivery Hero, will also come under Uber's umbrella.

FT pointed out that this acquisition is expected to further accelerate the consolidation of the global food delivery market around major players and help Uber secure the scale to compete more effectively with its rivals. Last year, Uber's competitor DoorDash acquired the British food delivery company Deliveroo for 2.9 billion pounds, and another competitor, Prosus, bought Just Eat Takeaway for 4.1 billion euros.

This content was produced with the assistance of AI translation services.