Grab explores spinning off financial services business: Sources

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SINGAPORE: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its ...

SINGAPORE: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.

The source, who declined to be identified as he was not authorised to speak to the media, said Grab was looking to raise less than US$500 million through its spin-off.

 

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