Delivery Hero Agrees to Sell Korea Unit in $684 Million Deal (1)

Delivery Hero SE agreed to sell its South Korean business to a private equity-backed consortium for an enterprise value of 800 billion won ($684 million), fulfilling an order from an antitrust watchdog attached to a local acquisition.

Affinity Equity Partners, GS Retail Co., and Permira Advisers will buy Delivery Hero Korea LLC, the company said in a statement on Friday. Delivery Hero said the transaction will close before the end of the year.

The deal comes after South Korea’s antitrust watchdog, the Korea Fair Trade Commission, ordered the sale in December as part of Berlin-based Delivery Hero’s takeover of delivery ...