Dawang
2021-12-14
✌ go for it!
Grab Holdings to Acquire Malaysian Supermarket Chain Jaya Grocer
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Grab has the option to buy the remaining preference shares after the deal closes, according to the filing dated Dec. 13.</p>\n<p>The acquisition is Grab’s largest since it took control of Indonesian wallet provider Ovo earlier this year. The Southeast Asian internet giant has employed M&A sparingly since notably taking over Uber Technologies Inc.’s regional ride-hailing operations. The deal weeks after Jaya Grocer’s founder, the Teng family, bought back its entire stake in the chain from Southeast Asia-focused private equity investor AIGF Advisors Pte.</p>\n<p>Jaya runs 40 stores across Peninsular Malaysia, with the majority being located in the Klang Valley area comprising of the capital city of Kuala Lumpur and richest state of Selangor. 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