Delivery Hero weighs $5.3B sale of Korea's Baemin operator Woowa Brothers
Delivery Hero has hired JP Morgan to explore divesting Woowa Brothers, the South Korean operator of delivery app Baemin and grocery platform B Mart, targeting around US$5.3 billion roughly six years after acquiring it for US$4 billion.
Delivery Hero is reportedly exploring a sale of its South Korean subsidiary Woowa Brothers, operator of leading delivery app Baemin and grocery platform B Mart, targeting around US$5.3 billion with JP Morgan advising on the deal.
Why this matters
Signals a strategic retreat from Delivery Hero's largest-ever acquisition, as the group reshapes its Asia portfolio after years of integrating Baemin and expanding B Mart quick-commerce in Korea.
Retail-company activity steady at 156 signals over the past 90 days.