Naver Withdraws Acquisition of Baedal Minjok… “Changes in Business Environment”
4 Articles
4 Articles
Naver Withdraws from Baedal Minjok Acquisition Due to Changes in Business Environment Naver has withdrawn from the acquisition of Baedal Minjok, which it had been pursuing alongside Uber. This follows the collapse of the sale of Baedal Minjok itself after Uber decided to acquire Delivery Hero DH, the German parent company of Baedal Minjok. Through a public disclosure on the 17th, Naver...
[Digital Daily Reporter Chae Seong-oh] Naver has decided not to acquire a stake in Baedal Minjok (Baemin). Although there had previously been speculation that Naver might partner with Uber to acquire Woowa Brothers, the operator of Baedal Minjok, this scenario will not materialize as Naver has concluded its review of the equity investment. On the 17th, Naver announced through a filing on the Financial Supervisory Service's electronic disclosure …
Naver considered forming a consortium with Uber to acquire a stake in Baedal Minjok (Baemin), but ultimately decided not to proceed with the acquisition. Uber is set to become the sole leader in the domestic delivery app market following its acquisition of a stake in Delivery Hero (DH). Naver announced through a public disclosure on the 17th, "We reviewed the acquisition of a stake in Baedal Minjok, but decided not to proceed due to changes in t…
Naver has made a final decision not to acquire a stake in Baedal Minjok, the number one service in the domestic delivery app market.
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