Uber sells Southeast Asia business to Grab, picks up 27.5% stake in combined entity

Grab co-founder Anthony Tan. Photographer: Ore Huiying/Bloomberg

Singapore’s ride-hailing major Grab on Monday announced that it has acquired Uber’s Southeast Asia operations, including ridesharing and food delivery businesses, in the region.

Under the terms of the deal, Uber will acquire a 27.5 per cent stake in Grab and Uber CEO Dara Khosrowshahi will join the board of the Singapore-based firm.

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