Naver has decided not to proceed with the acquisition of a stake in Baedal Minjok, operated by Woowa Brothers.
On September 17, Naver announced in a public disclosure that it had considered acquiring a stake in Baedal Minjok but ultimately decided against it due to changes in the business environment. This announcement clarifies a report from May 19 by Seoul Economic Daily regarding Naver and Uber's potential acquisition of Baedal Minjok for approximately 8 trillion won.
Previously, Seoul Economic Daily reported that Naver was forming a consortium with Uber to acquire Baedal Minjok for around 8 trillion won. At that time, Naver stated, “We are exploring various options to strengthen our business competitiveness, but no specific decisions have been made yet.”
The sale of Baedal Minjok has been pursued by Germany's Delivery Hero (DH). The market speculated that the sale price could reach up to 8 trillion won, and it was reported that Naver and Uber were considering forming a consortium.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.