Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Oracle Cuts 21,000 Jobs as AI Reshapes Workforce and Cloud Expansion Accelerates 
Trump’s Quantum Push Lifts IBM Stock as CEO Arvind Krishna Receives White House Praise 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
KPMG Australia Chairman and Senior Partners Exit Amid Escalating Whistleblower Scandal 
Nike CFO Shake-Up Fuels Concerns Over Turnaround Strategy 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
Alphabet Stock Slides as AI Talent Exodus and SpaceX Losses Shake Investor Confidence 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
100+ Global Companies Push Governments to Prioritize Electrification for Economic Growth 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Anthropic AI Model Uncovers Vulnerabilities in Classified U.S. Government Systems During Security Test 
The race for the acquisition of Yogiyo, one of South Korea’s leading food delivery companies, is still ongoing. The competition among the bidders is now in the final stage, and only a few companies were left in the race.
The remaining Yogiyo acquisition bidders
As per The Korea Times, the number of bidders is down to five, and these are confirmed for the final round of the bidding. In any case, it was reported that Yanolja, the leading travel and lodging service company in S. Korea, has dropped out, leaving four private equity funds (PEF) groups and Shinsegae, a retail giant, in the final set of candidates that may acquire Yogiyo.
According to the experts in the investment and banking sector, Shinsegae's SSG.com made it to the list as a qualified investor because of its huge funding power. There are other reasons, but this is the main driving force.
Currently, analysts predict that it is either MBK Partners, a financial services company, or Shinsegae’s SSG.com that will be Yogiyo’s new owner because they are the most qualified contenders among the remaining bidders.
"MBK Partners, which owns Homeplus, is a suboptimal contender that has qualified for the main bidding but will compete with the other major PEFs," an insider shared. “Affinity Equity Partners, Permira, and Bain Capital are the other three.
The delivery platform’s estimated value
In any case, it was noted that both MBK Partners and SSG.com are also contending to take over eBay Korea that was put up for sale earlier this year. Based on the estimation, the winner for this Yogiyo acquisition bid will have to shell out between ₩500 billion and ₩1 trillion. Initially, the estimated amount was as much as ₩2 trillion or about $1.78 billion.
As per The Korea Herald, all the bidders are aiming for a 100% stake in Yogiyo. Germany’s Delivery Hero owns the Korean food delivery platform. The German company acquired it from Baedal Minjok that is owned by Woowa Brothers.
Meanwhile, those that did not make it to the final round of Yogiyo bidding include CVC Capital Partners, TPG Capital, and TA Associates. Lotte was also in the race in the early phase of bidding but withdrew before the preliminary bids.
