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Grab Reportedly Seeking $2 Billion to Acquire Rival GoTo

  • Singapore-based ride-hailing/delivery platform Grab is seeking to raise $2 billion to acquire rival GoTo.
  • Grab is in talks to obtain a bridge loan for the deal, with a potential total acquisition value of $7 billion.
  • GoTo CEO Patrick Walujo confirmed discussions about a merger with Grab, considering options to enhance shareholders' return.
  • Regulatory scrutiny is expected as the potential combined company would be two of the largest ride-hailing and food delivery services in Southeast Asia.

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