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Miguel Cordon · · 1 min readGrab, Gojek near resolution on terms for merger, report says
The two Southeast Asian ride-hailing giants have reportedly agreed on parts of the potential merger deal, with some portions still needing further negotiations, the people added. Financial details of the deal are also being worked out between senior leaders of Grab and Gojek, as well as SoftBank founder and CEO Masayoshi Son.
The combined entity is aimed at becoming a publicly listed company, according to the report.
As part of the agreement, Grab co-founder Anthony Tan will become the CEO of the combined entity. Top execs from Gojek would then run the new business in Indonesia under the Gojek name, the sources added.
Grab, Gojek, and SoftBank declined to comment on the matter, the report noted.
See Also: Grab-Gojek, combined, could eventually be worth $72b
It was reported in October this year that SoftBank’s Son had been stepping up pressure on Grab to work out a merger deal with its Indonesian archrival. The talks were said to have died down but resumed in September this year due to pressure from shareholders.
A key sticking point in the negotiations at the time remained whether Grab and Gojek would fully merge or whether the Singaporean unicorn would acquire only Gojek’s Indonesian operations.
Edited by Collin Furtado and Jaclyn Teng
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