BUZZ-Delivery Hero jumps on report of South Korea sale process

Jpmorgan Chase

Jpmorgan Chase

JPM

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** Delivery Hero DHER.DE rises more than 3% after Maeil Business reports the German food delivery firm has begun a process to sell management rights of its South Korean business

** The South Korean newspaper says JP Morgan is speeding up the sale by contacting large domestic and foreign companies and global private equity funds

** Delivery Hero tells Reuters it's conducting a comprehensive strategic review of its portfolio but declines to comment on market speculation

** Delivery Hero, which is under pressure from several large shareholders to carry out a strategic review, operates in South Korea under the Baemin brand, owned by Woowa Brothers

** Maeil Business says the company expects the South Korean business to be priced at around 8 trillion won ($5.37 billion)

($1 = 1,490.5700 won)


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