Elegant brothers, the nation's leading delivery company, are acquired by the German delivery hero (DH).

DH is Korea's second largest delivery app Yogiyo.

Elegant brothers and DH announced on the 13th that they signed an agreement with DH, acquiring 87% of domestic and foreign investors' shares.

DH's valuation of the elegant brothers is $ 4 billion (approximately 475 trillion won), and the 87% stake it acquires is Hillhouse Capital, Altos Ventures, Goldman Sachs, Sequoia Capital China, Singapore Investment Authority (GIC). ) And so on.

In addition, the 13% stake held by the elegant brothers, including Kim Bong-jin, will be converted into a stake in DH's headquarters.

Kim is the largest shareholder of DH's management and a member of the three global Advisory Committees at DH's headquarters.

Elegant brothers said the merger was the largest merger and acquisition among Korean Internet companies.

It also added that the elegant brothers had the effect of listing on the German stock market in Frankfurt.

In addition, the two companies have entered into a global expansion partnership, establishing a joint venture, `` Ultra-DH Asia, '' with a 50-50 stake in Singapore.
Kim Bong-jin, Chairman of Elegant Brothers, will act as Chairman of GraceDH Asia.

It is now possible for the people of delivery to use the name of the people of delivery or the name of their citizens as they enter the Asian market.

While Kim Bong-jin is in charge of the Asian business, Kim Bum-joon is responsible for the domestic management of the elegant brothers.

Kim will take over as chief executive officer early next year.

The two companies will jointly operate in Asia, while in Korea, they will operate their own services such as the nation of delivery, Yogiyo, and delivery.

This is in line with the policy of developing each service to enhance consumer convenience while maintaining a competitive system.

In addition, the two companies will create an innovative fund of $ 50 million (approximately 60 billion won) to support the development of services for Korean technology ventures in the food technology sector.

When a successful restaurant in Korea enters overseas, we decided to help with market research and local consulting.

The two companies expected synergy between the know-how of the elegant brothers in the domestic market, DH's technological prowess, and global experience.

An official from DH said, "The Asian market is the region with the greatest potential for growth in delivery apps." Said.

The elegant brothers said, "This cooperation is the choice to realize Baemin's management philosophy of 'Where to eat good food' to meet the challenges of large IT platforms." Will benefit and contribute to job creation. "

(Photo: Capturing National and Yogiyo Homepage of Delivery, Yonhap News)