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Ok conditioned to Delivery Hero on Woowa Brothers

However, the German company will sell the South Korean Yogiyo app

Delivery Hero has been given conditional green light to acquire South Korean competitor Woowa Brothers. However, the $ 4 billion transaction is conditional on the German company selling its South Korean delivery app Yogiyo, the country's second largest. This was established by the Korea Fair Trade Commission, the Korean competition agency (Kftc). According to the head of the Authority, Joh Sung-wook, the sale of Yogiyo will avoid excessive risks for consumers, deriving from any abuse of dominant position without affecting the main objectives of Delivery Hero. Kftc specified that the combined market share of the entity resulting from the acquisition, if Yogiyo were not sold, would have been 97%. Woowa Brothers is in fact the largest food delivery platform in South Korea and operates the number one food delivery application Baedal Minjok (Baemin), which occupies a market share of 55.7%. Delivery Hero must sell Yogiyo within six months.

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EFA News - European Food Agency
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