Global mobility platform Uber bought additional equity in Germany's Delivery Hero (DH), the parent company of Korea's delivery app "Baemin," raising its stake to about 36%.
The Financial Times (FT) reported on the 27th, citing multiple sources familiar with the matter, that Uber recently purchased 14.6% equity in Delivery Hero held by Hong Kong-based activist fund Aspect Management, expanding its stake from 25.1% to 36.83%. Uber is said to have paid just under 40 euros per share (about 69,000 won) on a voting-rights basis.
Based on this, Delivery Hero's corporate value is assessed at about 12 billion euros (about 20.9 trillion won).
The transaction took place as Uber was pursuing an acquisition of Delivery Hero. Earlier, Uber made an acquisition proposal of around 33 euros per share to Delivery Hero's board of directors. Based on this, it assessed the corporate value at more than 10 billion euros. After that, Uber indicated willingness to acquire shares from one of Delivery Hero's major shareholders at around 38 euros per share but was rejected.
A source told the FT, "Uber is still considering whether to proceed with a tender offer," adding, "It will likely take several weeks before a final decision."