BERLIN (dpa-AFX) - Germany's Delivery Hero SE (DHER.DE DLVHF.OB) confirmed Friday that it has received examiner's report in which the case team of the Korea Fair Trade Commission or 'KFTC' recommended that the KFTC require the divestment of Delivery Hero's 100% South-Korean subsidiary Delivery Hero Korea LLC or 'Yogiyo' as a condition to the antitrust approval for joint venture with the South Korea's food delivery app operator Woowa Brothers Corp.
The South Korea's antitrust regulator reportedly plans to decide next month whether to approve a $4 billion acquisition of Woowa Brothers by Delivery Hero.
The Korean regulator will make a decision on the deal next month, if Delivery Hero submits its opinion on the examiner's report to the KFTC.
Delivery Hero noted that there is no certainty whether the KFTC would follow the suggestions of the examiner's report to ask for the divestment of Yogiyo or request other remedies from Delivery Hero in its final approval of the joint venture.
Meanwhile, other media report said that Delivery Hero will not accept the recommendation by South Korea's antitrust regulator, but the German company may suggest alternative remedies to get approval for its acquisition of Woowa Brothers.
Delivery Hero had announced the purchase of shares in, and the establishment of a joint venture with the management of, Woowa on December 13, 2019.
Copyright RTT News/dpa-AFX