BERLIN (dpa-AFX) - German online food-delivery service Delivery Hero SE announced Friday that it has agreed to divest Delivery Hero Korea LLC to a consortium formed of Affinity Equity Partners, GS Retail Co, Ltd. and Permira Advisers Ltd., for an enterprise value of KRW 800 billion.
Following the conditional regulatory approval by the Korea Fair Trade Commission for its strategic partnership with Woowa Brothers Corp., Delivery Hero was given a six month timeframe to divest 100% of Delivery Hero Korea LLC, which was extended by another five months from August 2, 2021.
Delivery Hero is now on track to fulfill the structural remedies by entering into a binding agreement after having gone through an auction sale process. The transaction is subject to certain regulatory approvals and is expected to close before the end of this year.
Copyright RTT News/dpa-AFX
© 2021 AFX News
