trending Market Intelligence /marketintelligence/en/news-insights/trending/DLWvIeKdqQjrh1LO2thZSw2 content esgSubNav
In This List

Delivery Hero raises €2.3B to fund Woowa acquisition

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Global M&A by the Numbers: Q2 2022

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms


Delivery Hero raises €2.3B to fund Woowa acquisition

Online food-delivery service Delivery Hero SE raised nearly €2.3 billion from the sale of convertible bonds and new shares in a fundraising exercise to help pay for its Asian expansion, Reuters reported Jan. 15.

The proceeds will go toward Delivery Hero's €3.6 billion acquisition of South Korean food-delivery platform Woowa Brothers Corp. In December 2019, Germany's Delivery Hero announced plans to acquire Woowa for a U.S.-dollar equivalent of €1.7 billion in cash and €1.9 billion in shares.

According to the Reuters report, Berlin-based Delivery Hero raised €1.75 billion from the sale of two convertible bonds and sold new shares worth about €571 million, equivalent to about 4.3% of its equity capital.