German takeaway giant Delivery Hero on Friday (Dec 13) said it had agreed to buy South Korea's largest food delivery app Woowa in a 3.6 billion euro (US$4bil) deal aimed at beefing up its presence in Asia and also particulary in South-East Asia. - AFP
SEOUL/FRANKFURT: Germany's Delivery Hero agreed a US$4bil deal to buy South Korea's top food delivery app owner Woowa Brothers, ratcheting up consolidation in the industry as it expands in Asia's fast-growing but crowded market.
The deal, announced on Friday by Woowa, follows a wave of others in the rapidly expanding sector but is the biggest so far. Woowa said it fell into the arms of its rival as "a survival strategy" in an intensely competitive market.
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