Grab to list in the US through world's biggest SPAC merger, valued at nearly US$40 billion

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SINGAPORE: Grab Holdings on Tuesday (Apr 13) confirmed its US$40 billion merger with a publicly-listed shell company backed by Altimeter Capital, ...

"Our diversified superapp strategy helped our driver-partners pivot to deliveries, and enabled us to deliver growth while improving profitability.

Altimeter CEO and founder Mr Brad Grestner said:"As one of the world's largest and fastest-growing Internet companies, Grab is paving the digital path forward for the 670 million citizens of Southeast Asia." With operations in eight countries and 398 cities, Grab is already Southeast Asia's most valuable start-up.

 

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Grab agrees world's biggest SPAC merger, valued at $40 billionSoutheast Asia's biggest ride-hailing and food delivery firm Grab Holdings agreed a merger on Tuesday with U.S.-based Altimeter Growth Corp in a deal that values Grab at an initial proforma equity value of about $39.6 billion and will lead to a public listing The merger, the biggest blank-check 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 fundraising in 2020.
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Grab agrees world's biggest Spac merger, valued at nearly S$53.2 billion
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