09 Mar '18, 6am

Grab could acquire Uber’s Southeast Asia business by mid-March 2018 https://t.co/Zj27zKlJTw

According to Bloomberg on March 8, 2018, Grab is about one week away from acquiring Uber’s business in Southeast Asia. The deal could be finalised by this week or next. Advertisement Uber to take stake in Grab Grab is set to buy out Uber’s operations in certain Southeast Asia markets. Uber will take a stake in Grab that could be up to 20 percent, said one of the people familiar with the talks but cannot be publicly named. Uber struck a similar deal with Didi Chuxing in China in 2016. Uber then sold its local operation in exchange for equity in the Chinese company after a brutal bid to gain market share but failed. What triggered acquisition? Japan’s SoftBank Group Corp. became the largest shareholder in Uber in January 2018. Grab has separately been in discussions with existing backers, including SoftBank, and new investors for additional capital. Grab was most recently va...

Full article: https://mothership.sg/2018/03/grab-acquire-uber/

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