Grab picks up stake in Bukalapak and DANA investor Emtek Group
Southeast Asian ride-hailing and food delivery decacorn Grab Holdings, which is on the verge of listing in the US via a SPAC deal, has picked up a stake in Indonesia’s Elang Mahkota Teknologi (Emtek) Group, DealStreetAsia has learnt from three sources privy to the matter.
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An insight into the reasons that Grab could ask for the steep valuation.
Grab will use the capital “to build the lowest cost and the most efficient delivery network.”
The proposed transaction includes a PIPE deal worth over $4 billion.
Grab will raise about $2.5 billion through a PIPE deal.
