Finance 1d ago 2 min read
German food delivery group Delivery Hero is running a formal sale process for its South Korean unit Woowa Brothers (Baemin), with a valuation of up to ₩8 trillion ($6 billion). Baemin generates approximately 20% of DH's ~₩25 trillion annual revenue and ₩600 billion in annual operating profit, implying an EV/EBIT multiple of roughly 13x. Naver (035420.KS), previously considered the frontrunner, has signaled it will not participate; Uber, Alibaba, and DoorDash have been approached but no binding bids have been made.