Delivery Hero (DH) in Germany, the headquarters of Yogiyo, has decided to accept the order to sell Yogiyo from the Fair Trade Commission.
DH was pleased to welcome the people of Delivery as one family, but expressed regret in the decision to sell Yogiyo. He also said that he wishes DH Korea, the Yogiyo operator, to go well.
DH Korea, who will part with DH, regretted the decision of the FTC, but promised to transparently disclose relevant information to its employees and fully support them.
On the 28th, DH announced that it will accept conditional regulatory approval for the merger between Delivery Hero Korea (DH Korea) and the Wuhan brothers according to the announcement of the Korea Fair Trade Commission.
On this day, the FTC issued a condition that DH, the headquarters of Yogiyo, in Germany must sell its stake in DH Korea in order to merge with its elegant brothers.
By allowing the two companies to combine, the synergy effect can be achieved through cooperation, and the sale of shares in DH Korea maintains a competitive relationship between the people of Bae Yi and Yogiyo, thereby enhancing consumer welfare.
At the end of last year, DH announced its plan to target not only the domestic but also Asian markets by acquiring elegant brothers. The reason why DH wants to take over the elegant brothers is that it not only can create synergy with Yogi-yo, but also because it has high management know-how of Chairman Kim Bong-jin, who achieved No. 1 delivery app in the fierce Korean market. As Chairman Kim Bong-jin takes on another challenge in the Asian market, competition with global delivery platforms such as Grab, Uberitz, and Go-Jek is expected to intensify.
Their merger and acquisition plans include establishing a joint venture in Singapore.
DH co-founder and CEO Nicholas Östberg said, “The approval of the partnership with our elegant brothers is good news, and we are thrilled to take a step closer to realizing collaboration.” In addition, he added, “I am looking forward to meeting Chairman Kim Bong-jin,” he added, “I look forward to expanding and strengthening our position throughout Asia.”
However, he said, “I am in deep sadness on the condition that I have to sell DH Korea, a subsidiary of DH,” he said, “I hope that DH Korea will do well.”
“We are very happy to cooperate with DH,” said Kim Bong-jin, chairman of the elegant brothers. “Through the partnership, we will advance the entire delivery ecosystem and work together to innovate the delivery industry in Asia.”
DH Korea also said, “We respect the FTC’s decision, but we are very sorry that DH has to make a difficult decision to sell DH Korea.”
“It is expected that it will take some time to understand the current situation and establish detailed plans in the future.” I will tilt it,” he said.
The graceful brothers who serve the people of Bae-hee emphasized, “With this corporate union, the elegant brothers will do their best to develop the Asian market in the future.” did.
He also promised, “We will continue to pursue our vision of’where we want to eat good food’, and we will be a responsible company that provides more benefits to consumers, restaurant owners, and riders and contributes to job creation.”