Germany’s Delivery Hero agrees to buy South Korea's Woowa Brothers for $4 billion, as regional food-delivery firms seek global success
Germany’s Delivery Hero SE agreed to buy South Korean rival Woowa Brothers for $4 billion, heating up a global battle in the fast-growing food-delivery business.
Seoul-based Woowa, which operates South Korea’s No. 1 food-delivery app, said Friday that Delivery Hero will acquire an 87% stake in the company and that the two would establish a joint venture in Singapore to compete with SoftBank Group Corp.-backed Grab Holdings Inc., Uber Technologies Inc.’s UberEats and Indonesia’s Gojek Group in markets across Asia.
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