Delivery Hero receives approval for an extension of the implementation period to divest Yogiyo
Berlin, 22 July 2021 – Delivery Hero SE (“Delivery Hero”), the world’s leading local delivery platform, today received the approval from the Korea Fair Trade Commission (“KFTC”) to extend the period of implementation of the remedial order requesting Delivery Hero to divest all its shares in Delivery Hero Korea LLC (“Yogiyo”) by August 2, 2021 for another five months. The divestiture is therefore now required to take place by January 2, 2022.
Delivery Hero is currently negotiating the divestiture. The remaining process will continue to be fully compliant with the applicable contractual terms and regulations, as well as the remedies required by the KFTC.
Delivery Hero had announced the purchase of shares in, and the establishment of a joint venture with the management of, Woowa Brothers Corp. (“Woowa”), on December 13, 2019. Following the written decision on conditional approval issued by the KFTC on February 2, 2021, Delivery Hero announced that all actions to close the transaction with Woowa were taken on March 3, 2021.
INVESTOR RELATIONS CONTACT
VP, Head of Investor Relations
+49 170 56 35 160
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.