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08/13/2021

Delivery Hero signs agreement with a three-party consortium to sell Delivery Hero Korea LLC

DGAP-News: Delivery Hero signs agreement with a three-party consortium to sell Delivery Hero Korea LLC

DGAP-News: Delivery Hero SE / Key word(s): Agreement/Mergers & Acquisitions
13.08.2021 / 11:53
The issuer is solely responsible for the content of this announcement.

  • Delivery Hero announces a transaction with Affinity Equity Partners, GS Retail Co, Ltd., and Permira Advisers Limited in relation to the divestment of Delivery Hero Korea LLC
  • The consortium will acquire 100% of the entity for an enterprise value of KRW 800 billion
  • Closing of the transaction is expected before the end of 2021

Berlin, 13 August 2021 - Delivery Hero SE ("Delivery Hero"), the world's leading local delivery platform, today announces that a consortium formed of Affinity Equity Partners, GS Retail Co, Ltd., and Permira Advisers Limited will acquire Delivery Hero Korea LLC for an enterprise value of KRW 800 billion.

Niklas Östberg, CEO and Co-Founder of Delivery Hero, said: "Together with the Delivery Hero Korea team, we have created a vibrant community of riders, restaurants and partners in South Korea. I want to sincerely thank the team for their hard work in the past years and wish them all the best for their journey ahead. It has been a fantastic journey and I am proud of how we managed to build an amazing brand that customers love."

Following the conditional regulatory approval by the Korea Fair Trade Commission for its strategic partnership with Woowa Brothers Corp., Delivery Hero was given a six month timeframe to divest 100% of Delivery Hero Korea LLC, which was extended by another five months from 2 August 2021. Delivery Hero is now on track to fulfill the structural remedies by entering into a binding agreement after having gone through an auction sale process. The transaction is subject to certain regulatory approvals and is expected to close before the end of this year.

ABOUT DELIVERY HERO
Delivery Hero is the world's leading local delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and today runs its own delivery platform on four continents. Additionally, Delivery Hero is pioneering quick commerce, the next generation of e-commerce, aiming to bring groceries and household goods to customers in under one hour and often in 10-15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. For more information, please visit www.deliveryhero.com

MEDIA CONTACT
Kingsum Li
Specialist, Corporate Communications
+49 170 56 35 160
press@deliveryhero.com

INVESTOR RELATIONS CONTACT
Christoph Bast
Director, Investor Relations
+49 160 30 13 435
ir@deliveryhero.com

DISCLAIMER
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.



13.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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