Grab Holdings is in discussions to raise up to US$2 billion in short-term funding to fund a potential acquisition of Indonesia’s tech rival GOTO Group. Bloomberg It has been reported.
According to those familiar with the issue, the Singapore-based on-board ride platform is involved with the bank on a bridge loan in tenors for around 12 months.
The discussion remains in the early stages, with both the loan structure and acquisition conditions being subject to change.
The fundraiser shows that grab It moves forward in due diligence and evaluates the structure of transactions that can be valued at over US$7 billion.
A GOTO spokesman declined to comment, but Grab has not responded to inquiries yet.
If completed, the acquisition will become one of the most important technology transactions in Southeast Asia in recent years.
Grab is also considering future bonds or equity offerings following Bridge Loan, but such funding remains conditional on the successful completion of the GOTO acquisition, one source said.
Last week, Singapore’s Competition and Consumer Committee I said We have not received official notifications from our passenger or delivery company. Potential Mergers.
