Delivery Hero SE (XTRA:DHER) is seeking to sell Woowa Brothers Corp., the operator of South Korea?s largest food delivery app Baedal Minjok, or Baemin, industry sources said on 14 May 2026. Delivery Hero has appointed JPMorgan Chase & Co. as the sales adviser for Woowa Brothers and recently distributed teaser materials to major domestic and overseas strategic investors, and private equity firms, including Korean portal operator Naver Corp., sources familiar with the matter said.
The German company is said to be seeking around USD 5.37 billion for the sale. Delivery Hero acquired an 87% stake in Woowa Brothers for about USD 4 billion in 2019. ?We are conducting a comprehensive strategic review of our portfolio, asset allocation and overall cost structure,?
a Delivery Hero official told Yonhap News Agency by phone.
