Uber to Acquire Delivery Hero, Making South Korea’s Baemin a Grandchild Subsidiary

Uber announced a deal to acquire the German online food‑delivery group Delivery Hero for an implied valuation of about 22 trillion won (roughly $148 billion). The offer of €41.50 per share translates to an actual purchase price of roughly 20.29 trillion won (≈$137 billion). After the transaction, Delivery Hero’s subsidiary Woowa Brothers, operator of Baemin, will become Uber’s “grand‑child” company.

The acquisition will double Uber’s presence in markets that host both mobility and delivery services, expanding from 34 to about 58 regions and bringing the total number of markets in which Uber operates to 99. Overlapping businesses will be spun off to SSW Partners for about 2.39 trillion won (≈$16 billion), covering 14 markets such as Turkey, Moldova, Poland, Portugal and Greece. Uber plans to keep Delivery Hero’s headquarters in Berlin and maintain its workforce unchanged at least until 2029. The deal is subject to antitrust clearances and is expected to close in the second half of 2027. Uber’s CEO said the integration will allow the combined platforms to serve “millions of people in the world’s most dynamic economic zones.”