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International Business News: Southeast Asia's biggest ride-hailing and food delivery firm, Grab Holdings, agreed a merger on Tuesday with US-based Altimeter Growth Corp in a deal
Biggest blank-cheque company deal ever paves the way for Grab Holdings to secure a coveted US listing.
SHARE South-East Asia's biggest ride-hailing and food delivery firm, Grab Holdings, agreed to a merger on Tuesday with US-based Altimeter Growth Corporation in a deal that gives Grab an initial equity value of about $39.6 billion and will lead to a public listing. The merger, the biggest "blank cheque" company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion in 2020. Singapore-based Grab's agreement with a special purpose acquisition company backed by Altimeter Capital includes a more than ...
SoftBank Group Corp (OTC: SFTBF) (OTC: SFTBY)-backed Singapore's ride-hailing and financial services startup Grab is set for a U.S. public listing through Altimeter Capital's SPAC Altimeter Growth Corp (NASDAQ: AGC), in a deal valued at $35 billion by as early as this week. Indonesian ride-hailing and e-commerce platforms Gojek and PT Tokopedia set merger terms before listing in Jakarta and the U.S. as per this Bloomberg report. Billionaires Richard Li and Peter Thiel backed SPAC Bridgetown Holdings Ltd (NASDAQ: BTWN) is contemplating a possible merger with SoftBank-backed PT...