Uber will acquire Germany-based delivery platform Delivery Hero (DH) for about $14.8 billion, or about 21.9 trillion won. Woowa Brothers, operator of Baedal Minjok, will also come under Uber, with changes expected in South Korea's delivery market.

Uber said on July 16 (local time) it signed a business combination agreement with Delivery Hero. In a tender offer, it will pay Delivery Hero shareholders 41.5 euros per share in cash, valuing the company at about $14.8 billion, or about 21.9 trillion won. Excluding the stake Uber already holds, the acquisition size is about $13.7 billion, or about 20.29 trillion won.

Uber currently holds about 24.77 percent of Delivery Hero's voting shares directly and has secured about 11.74 percent in economic interest through derivatives. With Prosus, the largest shareholder with about 17 percent, agreeing to tender its shares, Uber's economic interest will rise to about 53 percent. Delivery Hero's management and supervisory board unanimously supported the offer. The deal is expected to be completed in the second half of 2027 after merger reviews by competition authorities in each country.

Dara Khosrowshahi (다라 코스로샤히), Uber's chief executive, said, "Delivery Hero has built a strong position in the world's fastest-growing delivery markets." He added, "By combining the two platforms, we will provide opportunities to more consumers, merchants and couriers and create long-term value."

Niklas Ostberg (니클라스 외스트버그), Delivery Hero's CEO, also said, "By combining Uber's global mobility and delivery platform with Delivery Hero's local competitiveness, we can take the 'everyday app' strategy to the next level."

◆ "Korea is a key market... we will continue to invest in Baemin"

The businesses Uber will immediately bring under its umbrella span 50 markets, including Baedal Minjok. They include Talabat and HungerStation in the Middle East, PedidosYa in Central and South America, foodpanda in Asia, and Glovo in parts of Europe and Africa. The combined gross merchandise value of these businesses last year was about $42 billion.

By contrast, operations in 14 countries including Austria, Sweden, Spain, Poland and Turkiye, where they overlap with Uber Eats, will be transferred to New York investment firm SSW Partners for about $1.6 billion. Uber will not have control of those businesses, and SSW Partners will lead the process of seeking a new strategic investor.

Once the acquisition is completed, Uber's business footprint will expand further. Its service coverage will rise to 99 markets worldwide, and the number of countries where it offers both mobility and delivery will grow to 58 from 34. The companies' combined gross bookings last year totalled $236 billion.

Uber reaffirmed its commitment to long-term investment, calling South Korea a key market. Uber said, "Our commitment to long-term investment in Korea remains unchanged," adding it would continue to invest in Baedal Minjok's talent, brand value and technological capabilities and provide the support and resources needed to maintain services and experiences trusted by Korean users.

It added, "Our top priority is stable business continuity and sustainable growth for Baedal Minjok," and said it would support growth and stable earning opportunities for restaurant partners and delivery partners, communicate with all stakeholders, and strictly comply with relevant laws and regulations.

Uber said it will keep its Berlin headquarters at least through 2029 and invest 2.0 billion euros, or about 3.39 trillion won, in Germany over the next five years as part of the acquisition.