Uber Acquires Delivery Hero for 22 Trillion Won… Baedal Minjok Joins Uber Group
Date
Jul 16, 2026
Classification
- Startups
#
- Global
Author
Uber has signed an agreement to acquire Germany's Delivery Hero, valuing the company at $14.8 billion (approximately 22 trillion won). Delivery Hero's subsidiary, Woowa Brothers (Baedal Minjok), is also expected to be incorporated as a grandchild company of Uber. The acquisition process is scheduled to be completed by the second half of 2027, subject to regulatory approval.
Uber, the world's largest mobility platform, becomes the new owner of Baedal Minjok, Korea's No. 1 delivery app.
€41.5 per share tender offer… Actual acquisition price $13.7 billion
Uber announced on the 16th (local time) that it has signed a business combination agreement with Delivery Hero. It is conducting a cash tender offer targeting Delivery Hero shareholders at 41.5 euros per share; the transaction size for 100% of the shares is $14.8 billion (approximately 22 trillion won), and the actual acquisition amount excluding existing holdings is approximately $13.7 billion. The tender offer price reflects a premium of about 34% over the volume-weighted average share price of the previous three months. Delivery Hero's management and supervisory board unanimously supported the tender offer, and the largest shareholder, Prosus, also decided to sell its 17% stake.
Baemin's domestic business to remain unchanged... "Korea is a key market"
Delivery Hero acquired an 88% stake in Woowa Brothers for 3.6 billion euros (approximately 4.8 trillion won) in 2019, and with this transaction, Baedal Minjok will be incorporated as a grandchild company of Uber. Uber stated that Baedal Minjok's stable business continuity and sustainable growth are its top priorities and announced that it will continue to invest in restaurant and delivery partners. Uber defines Korea as one of its core markets and maintains the position that it will continuously invest in Baedal Minjok's talent, brand, and technological capabilities.
Regulatory Review and Business Restructuring… Accelerating Consolidation in the Global Delivery Market
Both companies plan to finalize the acquisition following regulatory approval procedures, with completion targeted for the second half of 2027. With this acquisition, the number of countries where Uber provides mobility and delivery services will increase from 34 to 58. The possibility of selling off some of Delivery Hero's businesses separately is also being discussed to resolve business overlaps and respond to competition authority reviews. This follows a continuing trend of consolidation among global delivery platforms, such as DoorDash's acquisition of the UK's Deliveroo and Prosus's acquisition of Just Eat Takeaway.
Uber's acquisition of Delivery Hero is a major deal that demonstrates the consolidation trend in the global delivery market, which is being reshaped by competition of scale. With Baedal Minjok being incorporated into the Uber system, the governance structure of the domestic delivery market has also come under the direct influence of global platform competition.
#Uber #DeliveryHero #BaedalMinjok #M&A #PlatformRestructuring
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