Merger-bound Indonesian unicorns Gojek, Tokopedia ink conditional sales agreement: Report

Merger-bound Indonesian unicorns Gojek, Tokopedia ink conditional sales agreement: Report

Indonesian tech unicorns Tokopedia and Gojek have signed a conditional sales and purchase agreement (CSPA) as they inch closer towards sealing a merger deal, according to a report by the insights platform D-Insights.

Following the merger, the combined entity is expected to command a valuation of $35-40 billion, the report said. At that valuation, it will be the third most valued company in Indonesia after PT Bank Central Asia Tbk (BBCA) and PT Bank Rakyat Indonesia Tbk (BBRI) in terms of market capitalisation on IDX, the report noted.

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