Bae, Kim & Lee and WongPartnership have represented German online delivery company Delivery Hero SE on its $4 billion acquisition of Woowa Brothers, owner of South Korea’s top food delivery app owner. The seller was counselled by Kim & Chang, while Woowa's shareholders were advised by Sullivan & Cromwell.
Berlin-based Delivery Hero is expected to complete 100 percent ownership of Woowa Brothers in two phases. It will pay $1.88 billion in cash and $2.1 billion in shares for an 88 percent stake in Woowa. The remaining 12 percent will be held by Woowa management and will be given to Delivery Hero in the next four years.
The Sullivan & Cromwell team was led by partners Garth W. Bray, York Schnorbus and Juan Rodriguez.
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