Grab acquiring supermarket chain Jaya Grocer

The 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.

SINGAPORE: Grab Holdings Ltd, a unit of South-East Asia’s largest ride-hailing and delivery group, is buying top premium grocery chain Jaya Grocer Holdings Sdn Bhd, according to filing with the US Securities and Exchange Commission.

The 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.