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Grab to announce merger with U.S. SPAC, to be valued at nearly $40 bln - sources


2 Min Read
SINGAPORE, April 13 (Reuters) - Southeast Asia’s largest ride-hailing and food delivery firm Grab Holdings is set to announce later on Tuesday a merger with U.S.-based Altimeter that is set to value Grab at nearly $40 billion and lead to a public listing, three people told Reuters.
The merger will make it the biggest blank-check company deal ever.
Grab’s agreement with a special purpose acquisition company (SPAC) backed by Altimeter Capital includes a $4 billion private investment in public equity (PIPE) from a group of Asian and global investors including Fidelity International and Janus Henderson.
Singapore-based Grab declined to comment. There was no response from Silicon Valley-based Altimeter to an emailed request for comment. ....

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Factbox: Grab, Southeast Asia's biggest startup, set for bumper U.S. listing


By Reuters Staff
4 Min Read
SINGAPORE (Reuters) - Grab, Southeast Asia’s biggest ride-hailing and food delivery firm, is going public in the United States via a merger with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion.
FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. Picture taken March 21, 2019. REUTERS/Anshuman Daga/File Photo
The deal is set to be the world’s biggest ever by a blank check company.
WHAT IS GRAB?
Founded in 2012, Grab is Southeast Asia’s largest startup and was valued at just over $16 billion last year. It launched as a Malaysia taxi-hailing service and has since expanded into food, grocery and parcel delivery to digital payments, lending and other financial services, calling itself a superapp. ....

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BMO to sell EMEA asset management unit for $870 million to focus on North America


2 Min Read
FILE PHOTO: The logo of the Bank of Montreal (BMO) is seen on their flagship location on Bay Street in Toronto, Ontario, Canada March 16, 2017. Picture taken March 16, 2017. REUTERS/Chris Helgren/File Photo
(Reuters) -Canada’s Bank of Montreal said on Monday it has agreed to sell its EMEA asset management business to Ameriprise Financial Inc for C$1.1 billion ($870 million) in an all-cash transaction to increase its focus on North America.
Canada’s fourth-largest lender will take a C$745 million write-down of goodwill after tax in the second quarter of fiscal 2021 as a result of the transaction, which is expected to close in the fourth quarter of calendar 2021, BMO said. ....

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