Baemin Sale Begins as Germany’s DH Seeks New Owner at Around 8 Trillion Won

Germany’s Delivery Hero (DH) has reportedly begun the process of selling Baemin seven years after acquiring the Korean delivery platform. According to Maeil Business Newspaper, DH has sent investment memorandums for Baemin to global big tech companies and private equity funds. Baemin was acquired by DH for about 4.8 trillion won, while the current asking price is being discussed at around 8 trillion won. Likely candidates are said to include Chinese companies such as Meituan, which is seeking to expand its Asian platform presence, and Alibaba, which has partnered with Shinsegae. If completed, the deal could affect South Korea’s delivery platform market and the competitive landscape for Asian platforms. Source: mk.co.kr