FILE PHOTO: A Grab motor driver is seen in a street in Jakarta, Indonesia, February 13, 2017. REUTERS/Beawiharta
SINGAPORE (Reuters) - Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) is investing $375 million in ride-hailing and payment firm Grab's Indonesia unit, the companies said in a statement on Monday, in what they described as a "strategic alliance."
The deal is the latest tie-up between Singapore-headquartered Grab, the region's biggest ride-hailing and food delivery firm, and Southeast Asian conglomerates, including a strategic investment by Thailand's Central Group in 2019.
