Singapore: the carpooling and food delivery company from the United States list seeks to conclude an agreement to use the smallest Indonesian rival Goto in the second quarter, according to two sources knowing the question.
Singapore, whose head office, hired advisers to work on the proposed agreement, added the two sources. The agreement is subject to terms such as funding, that Grab is in discussion with banks, one of the sources added.
GRAB refused to comment.
In a scholarship file on Thursday, May 8, Goto declared that he had made no decision concerning the proposals of which he could have been aware or received.
An agreement could enhance Goto at around $ 7 billion, according to a separate source with knowledge of the issue. Goto's actions listed by Jakarta climbed 20% for the start of the year, which gives it a market value of around 5.8 billion dollars, according to LSEG data.
GRAB's shares on NASDAQ have increased by 2.4% so far this year, which gives it market value of almost $ 20 billion, according to LSEG data.
Goto will sell his international unit, according to two separate sources familiar with the case. In Indonesia, Goto will sell his entire operations with the exception of his financial arm to grasp, one of the two sources added.
The terms of the agreement are not finalized and could change because the two companies are still in negotiations, have warned the sources.
GRAB, supported by Uber, offers delivery, mobility and financial services, among other things, according to its website.
Goto, whose investors include Softbank and Taobao China Holding, described himself as the largest digital ecosystem in Indonesia which provides electronic and banking trade services, has shown its website.
