An Uber taxi (left) and a Baemin Riders delivery worker. [Uber Taxi, Woowa Brothers]
An Uber taxi (left) and a Baemin Riders delivery worker. [Uber Taxi, Woowa Brothers]

Uber has agreed to acquire Delivery Hero, the German online food delivery platform, for approximately 13.7 billion euros ($15.7 billion), or about 23.28 trillion won.

As a result, Woowa Brothers — the operator of Baemin and a subsidiary of Delivery Hero — will become a grandchild company of Uber.

Uber disclosed the proposed acquisition on its website Thursday.

Under the terms of the deal, Uber is offering all Delivery Hero shareholders 41.50 euros per share in cash. Adjusted to account for Uber's prior stake purchases, the total consideration comes to 13.7 billion dollars.

Baemin is among the companies to be folded into Uber through the deal. Because Delivery Hero holds in effect all of Baemin's shares, Baemin is expected to become a grandchild company of Uber.

"By combining the two platforms, we will bring delivery services to millions of people in some of the world's most dynamic economies," Uber CEO Dara Khosrowshahi said. He added that the company would "double" the number of markets where it offers mobility and delivery services, and expand proven platforms to create value for both customers and shareholders.


ko@heraldcorp.com