Grab aims to acquire Indonesian rival GoTo this year

Grab is aiming to secure a deal for the acquisition of Indonesia ride-hailing rival, GoTo in the second quarter of this year, Reuters has reported.

Advisors have been hired by Grab to work on the deal, Reuters has said, citing its sources, and this deal is subject to terms including financing. The news wire reported that Grab is looking to buy GoTo’s businesses at a price of around US$7 billion (RM30.2 billion).

To that end, GoTo will be selling off the Singapore unit of its business to Grab. In Indonesia, GoTo is said to be selling its operations in its entirety to Grab, except for its finance division.

Grab has made a bid for another competitor before. In September 2023, Grab was reportedly in talks to buy foodpanda’s Southeast Asian business from its German parent company Delivery Hero for the equivalent of RM5 billion. Early in 2024, Grab’s bid for the foodpanda business had reportedly fallen through, though this was refuted by Delivery Hero in February that year.

Talks for the acquisition did eventually collapse due to issues concerning pricing, and Delivery Hero eventually announced that month that talks between the company and Grab for the sale of the foodpanda Southeast Asian business had ended.

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