Delivery Hero weighs $5.3B sale of Korea's Baemin operator Woowa Brothers
Delivery Hero has hired JP Morgan to explore divesting Woowa Brothers, the South Korean operator of delivery app Baemin and grocery platform B Mart, targeting around US$5.3 billion roughly six years after acquiring it for US$4 billion.
What happened
Delivery Hero is reportedly exploring a sale of its South Korean subsidiary Woowa Brothers, operator of leading delivery app Baemin and grocery platform B Mart,
Key facts
- US$4 billion (2019 acquisition)
- US$5.3 billion (target sale price)
Why this matters
JP Morgan's mandate opens a rare auction for a category-leading APAC delivery asset, putting PE roll-up bidders and Korean strategics like Coupang or Naver on the clock.