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Delivery Hero (DH) in Germany, the Yogiyo headquarters, has decided to accept Yogiyo’s sales order from the Fair Trade Commission.
DH is pleased to welcome the people of Delivery as one family, but regretted the decision to sell Yogiyo. He also said that he hopes DH Korea, the Yogiyo operator, will do well.
DH Korea, which will be splitting from DH, regretted the FTC’s decision, 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 from the Korea Fair Trade Commission.
On that day, the FTC issued a condition that DH, the Yogiyo headquarters in Germany, must sell its stake in DH Korea 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, thus enhancing consumer welfare.
At the end of last year, DH announced its plans to target not only the domestic market but also the Asian market by acquiring elegant brothers. The reason why DH wants to take over the stylish brothers is that he can not only create synergy with Yogi-yo, but also because he has high management knowledge from President Kim Bong-jin, who managed the number one delivery app in the fierce Korean market. As President Kim Bong-jin takes on another challenge in the Asian market, competition is expected to intensify with global delivery platforms such as Grab, Uberitz and Go-Jek.
Its merger and acquisition plans include the establishment of 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 delighted to take another step towards realizing the collaboration.” Furthermore, he added, “I look forward to welcoming President Kim Bong-jin” and “I look forward to expanding and strengthening our position throughout Asia.”
However, he said, “I was deeply saddened on the condition that I sell DH Korea, a subsidiary of DH,” and said, “I hope DH Korea does well.”
“We are very happy to cooperate with DH,” said Kim Bong-jin, president 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 a detailed plan in the future.” Throughout this process, Delivery Hero Korea is committed to providing information to employees in the most transparent manner possible and providing full support to employees. I’ll tip it, “he said.
The elegant 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” and “We will become a global company based on the successful experience of Bae Min in Korea. ” 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 passengers and contributes to job creation.”
