Photo courtesy of Yonhap News

 

 

[Alpha Biz= Kim Jisun] Uber has become the largest shareholder of Delivery Hero, the parent company of South Korea’s leading food delivery platform Baedal Minjok, after increasing its stake through additional share purchases.

Delivery Hero announced on May 18 that Uber acquired a 19.5% stake in the company and secured options to obtain an additional 5.6% stake through financial instruments.

Headquartered in Berlin, Delivery Hero operates in more than 65 countries across Asia and Europe. The company welcomed Uber’s investment, describing it as a vote of confidence in its platform and long-term strategy.

Uber had previously acquired a 7% stake in Delivery Hero in April by purchasing shares worth €270 million (approximately KRW 470 billion) from Prosus, then the company’s largest shareholder.

In a separate statement, Uber said it may adjust its holdings within the next 12 months, either by increasing its voting rights or divesting shares. However, it clarified that it does not intend to acquire more than 30% of voting rights in Delivery Hero, a threshold that would typically trigger stronger control implications.

 

 

 

Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)

https://www.alphabiz.co.kr/news/view/1065616356456675
This article is based on global economic content from Alphabiz, which distributes English-language news on Korean markets and companies to international audiences.

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