Woowa Brothers (Baemin) Sale Deadline Set for July 21, Binding Offers Worth 8 Trillion Won

According to Maeil Business, Woowa Brothers, the operator of South Korea's leading food delivery platform Baemin, will receive binding acquisition proposals by July 21, 2026, with the deal value estimated around 8 trillion won. JP Morgan is managing the sale of Woowa Brothers, currently held by Delivery Hero.

Uber, Naver, and Alibaba have been identified as potential bidders. However, a recent development has created uncertainty: Uber has increased its stake in Delivery Hero to 36.83%, making it the largest shareholder in Woowa Brothers' parent company. Market analysts are now considering alternative scenarios, including a potential withdrawal of the sale or Naver's participation as a minority investor.