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Deepti Sri · · 1 min readSources: Gojek, Tokopedia look to finalize merger deal this month
“Indonesia’s two most valuable startups, ride-hailing giant Gojek and ecommerce provider Tokopedia, are finalizing terms for their merger and aiming to reach an agreement as early as this month,” Bloomberg reported, citing people familiar with the matter.
Details:
- The two Southeast Asian giants are also said to be considering an IPO for the combined entity in both the US and Jakarta with a target valuation between US$35 billion and US$40 billion.
- According to the latest negotiations, Gojek shareholders will hold a 60% stake in the combined entity, while Tokopedia investors will own a 40% share.
Context:
- Last month, it was reported that Gojek and Tokopedia were in advanced talks for a merger, with the combined entity to be valued at over US$18 billion.
- It was also said that the two companies signed a detailed term sheet to conduct due diligence of their businesses.
Editing by Miguel Cordon Jaclyn Tiu
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