Delivery Hero Germany Acquires 1,690,151 Shares
[Asia Economy Reporter Buaeri] Naver made an investment in the operator of the delivery application 'Baedal Minjok' and earned an evaluation profit exceeding 10 times the principal amount.
Naver announced on the 2nd that it will acquire 1,690,151 shares of Delivery Hero, a German company.
In September 2017, Naver invested 35 billion KRW in Woowa Brothers. After Woowa Brothers was acquired by Germany's Delivery Hero, as of December 2019, Naver was set to receive 100 million USD in cash and shares worth 89 million USD.
The value of Delivery Hero shares received by Naver is estimated at approximately 247.7 billion KRW as of this date. Adding the separately received 100 million USD (112.5 billion KRW) in cash, the total amounts to 360.2 billion KRW, which is more than 10 times the principal.
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