Baemin Sale Begins as DH Seeks Buyer at Around 8 Trillion Won

Germany’s Delivery Hero, or DH, has reportedly begun the process of selling Baedal Minjok seven years after acquiring the Korean delivery platform. DH is said to have sent investment information to global big tech companies and private equity funds as it searches for a new owner, with the target sale price discussed at around 8 trillion won. DH previously bought Baedal Minjok for 4.8 trillion won. Chinese companies are being named as likely candidates, including Meituan, which seeks Asian platform expansion, and Alibaba, which has partnered with Shinsegae. If completed, the deal could affect ownership and competition in Korea’s delivery platform market. Source: mk.co.kr