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Grab to announce merger with US SPAC, to be valued at nearly $40B: sources

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Southeast Asia's largest ride-hailing and food delivery firm Grab Holdings is set to announce later on Tuesday a merger with US-based Altimeter that is set to value Grab at nearly $40 billion and lead to a public listing, three people told Reuters.

Grab's agreement with a special purpose acquisition company backed by Altimeter Capital includes a $4-billion private investment in public equity 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.The sources declined to be identified due to the sensitivity of the matter. More details to follow.

 

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