Singapore – Grab Holdings, the prominent ride-hailing and delivery service backed by Uber Technologies, is actively seeking to secure a loan of up to US$2 billion to facilitate its potential acquisition of Indonesia-based rival GoTo Group.
According to sources familiar with the matter, the company is currently advancing through due diligence and engaging in discussions regarding the structure of a deal that could exceed US$7 billion. This strategic move underscores Grab’s ambition to expand its footprint in the competitive Southeast Asian market.
The potential takeover of GoTo Group, which operates a comprehensive ecosystem of services including ride-hailing, food delivery, and e-commerce, aligns with Grab’s long-term vision of becoming a leading super app in the region. By securing this loan, Grab aims to bolster its resources and enhance its competitive edge against other players in the rapidly evolving tech landscape.
As negotiations progress, the implications of this acquisition could significantly reshape the dynamics of the ride-hailing and delivery sectors in Southeast Asia. Stakeholders are keenly watching how this potential merger will unfold and its impact on the market.
Stay tuned for further updates as Grab navigates this pivotal moment in its growth journey.