BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Delivery Hero SE (DHER.DE DLVHF.OB) said it will receive conditional regulatory approval from Korea Fair Trade Commission for the company's strategic partnership with Woowa Brothers Corp. The deal includes the establishment of a joint venture in Singapore. The joint venture is expected to manage the operations of Delivery Hero in Asia.
Delivery Hero noted that the regulatory approval is conditional upon structural and behavioural remedies on the South Korean subsidiary until the completion of the divestiture. The structural remedy requires Delivery Hero to divest 100% of Delivery Hero Korea LLC, or Yogiyo.
The company expects to receive the final written approval and closing to occur in the first quarter of 2021.
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