Oil Prices Drop Below $100 as Hopes Rise for U.S.-Iran Peace Agreement 
Goldman Sachs to Pay $500M in 1MDB Shareholder Fraud Settlement 
Stellantis CEO Antonio Filosa to Reveal Turnaround Strategy Focused on U.S. Sales and China Partnerships 
OpenAI Eyes IPO Filing as Early as This Week Amid Rising AI Competition 
Mistral AI Acquires Emmi AI to Expand Industrial AI Solutions in Europe 
ECB Signals Possible Rate Hike as Middle East Tensions Push Euro Zone Inflation Higher 
Intuit Raises Full-Year Forecast After Strong Q3 Earnings Despite Stock Drop 
H.B. Fuller Eyes Advanced Medical Solutions in Potential £600M Takeover Deal 
Dollar Eases as US-Iran Peace Deal Report Impacts Forex and Bond Markets 
Blackstone and Google Launch AI Cloud Venture, Pressuring CoreWeave and Nebius Shares 
Wall Street Faces Inflation Pressure as Strong Earnings Season Nears End 
SpaceX Delays Starship V3 Launch Ahead of Potential Record IPO 
Iran-U.S. Talks Continue as Strait of Hormuz and Uranium Dispute Stall Peace Efforts 
Marco Rubio Visits India to Rebuild U.S.-India Ties Amid Trade and Geopolitical Tensions 
Meta AI Push Could Add $26 Billion in Revenue by 2027, Wolfe Research Says 
Gold Prices Surge as U.S.-Iran Peace Deal Hopes Boost Market Sentiment 
Japan Airlines Signs 10-Year Boeing 787 Maintenance Deal With GE Aerospace 
Yogiyo is the largest food delivery platform in South Korea, and it is up for sale. Major retail companies in the country have placed their bids and in a race to acquire the firm.
Competing firms in Yogiyo’s sale
As per The Korea Herald, the acquisition of Yogiyo has also attracted Shinsegae, a South Korean department store franchise, and Yanolja, a booking platform for accommodations and other travel services.
It was added that a large big private equity fund is also competing to buy the country's largest delivery firm. All of the bidders are looking forward to purchasing a 100% stake in Yogiyo.
Currently, it is only the preliminary bidding, but all of them are eager to make it to the finals. Sources revealed that there are about eight bidders that are vying to acquire the said Korean delivery platform. Previously, GS Retail and Lotte have also expressed interest in buying Yogiyo but both did not participate in the bidding.
Yogiyo’s estimated value
It was initially estimated that bids may fetch by as much as ₩2 trillion or approximately $1.78 billion, but observers said that the number might be lower. Pulse News reported that Germany’s Delivery Hero, which owns Yogiyo after buying it from Baedal Minjok, and the company’s sale adviser Morgan Stanley, have received the preliminary bids this week.
Some of the private equity fund bidders were revealed to include CVC Capital Partners, Seoul-based MBK Partners, TA Associates, TPG Capital, and Permira. Apparently, despite the massive estimated value of Yogiyo, there are still a lot of contenders since it is a great deal from the business perspective.
Finally, Yogiyo is South Korea’s second-largest food delivery app, boasting a market share of 30% as of September 2020. This figure is based on Nielsen Korea’s market research survey. Its share is half of the no. 1 in the field, which is Baedal Minjok that has a 59.7% market share. The third in the list of the best delivery apps in the region is Coupang, with 6.8 percent. The delivery platform was put on the market by Delivery Hero after receiving an order from the South Korean Fair Trade Commission to dispose of it due to monopolization concerns.
