Delivery Hero SE: Delivery Hero SE confirms receipt of the examiner's report from Korea Fair Trade Commission with respect to joint venture with South Korean Woowa Brothers Corp., proposing divesture of Delivery Hero's Korean subsidiary
Delivery Hero SE / Key word(s): Joint Venture/Capital Increase
Berlin, November 13, 2020 - Delivery Hero SE ("Delivery Hero") confirms the receipt of the so called examiner's report in which the case team of the Korea Fair Trade Commission ("KFTC") recommended that the KFTC require the divestment of Delivery Hero's 100% South-Korean subsidiary Delivery Hero Korea LLC. ("Yogiyo") as a condition to the antitrust approval for the previously announced joint venture with Woowa Brothers Corp. ("Woowa").
Delivery Hero had announced the purchase of shares in, and the establishment of a joint venture with the management of, Woowa, the operator of South Korea's largest food delivery platform, on December 13, 2019. The issue of the confidential examiner's report marks an interim step prior to hearings with, a final decision and approval of the KFTC. There is no certainty whether the KFTC would follow the suggestions of the examiner's report to ask for the divestment of Yogiyo or request other remedies from Delivery Hero in its final approval of the joint venture.
This release may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of Delivery Hero SE ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of Delivery Hero SE and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. We undertake no obligation, and do not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. We accept no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.
|Company:||Delivery Hero SE|
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