Sources: Grab seals deal to take over Uber's South-East Asian operations

  • Business Premium
  • Sunday, 25 Mar 2018

- Bloomberg

SINGAPORE: Uber Technologies Inc. has reached an agreement to sell its South-East Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said.

The agreement – which includes all of Uber's operations in South-East Asia as well as Uber Eats in the region – gives Uber a stake of between 25% and 30% in the new combined business, they said, asking not to be identified ahead of an official announcement.

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