Thailand’s retail conglomerate Central Group on Thursday officially announced it has acquired a significant non-controlling stake in Grab’s Thai entity for $200 million.
As part of the strategic partnership, Central is investing in Grab’s local business and not at the holding company level. This investment is, therefore, not part of Grab’s ongoing Series H round, for which it is seeking to raise $5 billion. Of this, it secured $3 billion last year from investors including Toyota, Hyundai, Microsoft and others.
