Mitsubishi UFJ Financial Group Inc is investing more than US$700mil (RM2.93bil) in South-East Asian ride-hailing giant Grab. It’s a three-way deal in which everyone gets what they currently lack.
The Japanese megabank and the Singapore-headquartered "superapp”, a one-stop online shop spanning food to finance, get to plug gaps in their businesses. They also keep one of Grab’s existing backers sweet: Softbank Group Corp’s founder Masayoshi Son will avoid the possibility of an inconvenient cash call from one of his most promising unicorns.