S.Korea's GS Retail-led consortium to buy Delivery Hero's food delivery app Yogiyo (updated)

GS Retail

13/08/2021 10:50

(Adds details)
    SEOUL, Aug 13 (Reuters) - South Korean retailer GS Retail Co
Ltd  007070.KS  said on Friday it had partnered with two
private-equity firms to buy
Delivery Hero's  DHER.DE  food delivery app, Yogiyo, in a deal
valued at 800 billion won ($685 million).
    The consortium, which includes PE firms Affinity Equity
Partners and Permira, will buy existing shares in Delivery Hero
Korea, which operates the food delivery app, and infuse an
additional 200 billion won, GS Retail said in a statement.
    GS Retail's investment will be a total of 300 billion won
and includes a 30% stake, it said in a statement. 
    Germany's Delivery Hero was ordered to sell Yogiyo as a
condition to win regulatory approval for its $4 billion takeover
of top South Korean food delivery app owner Woowa Brothers in
2019.  urn:newsml:reuters.com:*:nL1N2J8031

($1 = 1,167.8400 won)

 (Reporting by Joyce Lee; editing by Jason Neely and Anil
D'Silva)
 ((jungyoon.lee@tr.com; +82 2 6936 1467;))