GRAB Holdings Ltd, a unit of Southeast Asia’s largest ride-hailing and delivery group, is buying Malaysia’s top premium grocery chain Jaya Grocer Holdings Sdn Bhd according to filing with the US Securities & Exchange Commission.
Singapore-based Grab signed an agreement with the shareholders of Jaya Grocer to buy all of the grocery chain’s ordinary shares and 75% preference shares for an undisclosed amount.
Grab has the option to buy the remaining preference shares after the deal closes, according to the filing dated Dec 13.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
