South Korea FTC begins pre-merger review of Uber-Delivery Hero deal

Korea's FTC began reviewing Uber's proposed acquisition of Baemin, a food delivery platform, through a tender offer for Delivery Hero, which controls Baemin. The deal, if approved, would mark Uber's return to Korea's food delivery market and combine its ride-hailing with Delivery Hero's food delivery business. Uber aims to complete the acquisition by mid-2024, pending regulatory approvals.

Uber's $13.7B acquisition of Delivery Hero, parent of South Korea's Baemin, is under review by the Korea Fair Trade Commission. The deal, expected to close in 2027, would combine Uber's ride-hailing with Baemin's delivery platform, raising competition concerns. Uber aims to boost innovation and investment, while the FTC will assess market impact. Uber previously exited Korea's food delivery market in 2019.

Uber Technologies seeks to acquire Delivery Hero, parent of South Korea's top food delivery app Baemin. The South Korea Fair Trade Commission is reviewing the merger, which would combine Uber's ride-hailing platform with Delivery Hero's delivery business. Uber aims to close the deal in late 2024, pending regulatory approvals and securing a majority stake. The FTC will assess the impact on competition and users in both markets.

Uber Technologies Inc. filed for FTC review to acquire a stake in Delivery Hero SE, parent of Woowa Brothers Corp., which operates South Korea's leading food delivery app, Baedal Minjok. The FTC confirmed receipt of the application.

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