Twitter LinkedIn
    Thursday, March 23
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»Singapore’s Grab to go public in world’s biggest $40 billion SPAC merger
    Deals & Transactions

    Singapore’s Grab to go public in world’s biggest $40 billion SPAC merger

    April 14, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Grab Holdings, the largest ride-hailing and food delivery firm in Southeast Asia, clinched a merger on Tuesday with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion and paving the way for a coveted U.S. listing.

    As part of Singapore-based Grab’s agreement with the SPAC backed by Altimeter Capital, investors such as Temasek Holdings, BlackRock, Fidelity International, Abu Dhabi’s Mubadala and Malaysia’s Permodalan Nasional Bhd will participate in a $4 billion private investment in public equity offering.

    The merger, the biggest blank-check company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion in 2020.

    The deals for Grab, which was valued at just over $16 billion last year, are a big win for its early backers such as SoftBank Group Corp and China’s Didi Chuxing.

    Read more at Reuters

    By Anshuman Daga and Aradhana Aravindan

    Image Source

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Mergers and acquisitions SPACs
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Thyssenkrupp shares move higher on report of CVC interest in steel unit

    March 21, 2023

    UBS Agrees to Buy Credit Suisse for $3 Billion in Historic Deal – Copy

    March 19, 2023

    UBS Agrees to Buy Credit Suisse for $3 Billion in Historic Deal

    March 19, 2023

    BlackRock Not Working on Rival Bid for Credit Suisse

    March 18, 2023

    Comments are closed.

    Other Articles

    Kirkland advises Bain Capital on investment in Berlin Brands Group

    September 2, 2021

    Exxon, Imperial Oil to market up to $1 billion in Canadian assets

    January 14, 2022

    Torii raises $10 million Series A funding to automate software management in the enterprise

    February 24, 2021

    Ares Management raises $3.7B of Sports, Media and Entertainment Capital

    September 16, 2022

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?