Grab ride-hailing company is negotiating with a U.S. special purpose acquisition company (SPAC) to go public. The merger deal is valued between $35 billion and $40 billion, the biggest transaction ever.
Grab Holdings Inc has discussed with Altimeter Capital Management, which supports two SPACs. In this regard, a new report stated that Grab is negotiating with Altimeter without mentioning which.
Established in 2012, the largest food delivery company in southeast Asia has not finalized any deal yet.
SPACs merge with companies, motivating them via shorter listing timetable, and collect money through IPO.
Many investors in the world, like SoftBank Group Corp and Mitsubishi UFJ Financial Group, support the company. It is expected that private investors will help Grab raise $3 billion to $4 billion.