Latest news with #GoToGroup
South China Morning Post
10-06-2025
- Business
- South China Morning Post
Grab to sell US$1.25 bln in convertible bonds to fund purchases as GoTo takeover stalls
Grab Holdings is planning a US$1.25 billion sale of bonds convertible into stock, partly to bulk up its war chest for acquisitions amid signs that talks to take over rival delivery-and-transport provider GoTo Group have stalled. Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said in a statement on Monday. The securities will carry a coupon of as much as 0.5 per cent a year, payable semiannually, according to terms of the deal seen by Bloomberg News. Grab joins the flurry of sales of bonds that can be swapped into stock by Asian companies this year. That is particularly been the case with Chinese firms as issuers from Baidu to Ping An Insurance Group of China announced sizeable deals in recent months. Aside from possible acquisitions, Grab said it plans some share buy-backs – the company has US$274 million remaining under its share-repurchase programme as of the end of March. The bonds will be redeemable, under certain conditions, from mid-2028. As for the GoTo acquisition, Grab on Monday signalled that it was halting or at least pausing a planned US$7 billion acquisition. The pair of ride-hailing and food-delivery companies have held on-and-off talks for years, but a combination never materialised, partly because of antitrust concerns likely to arise from combining the two dominant players in Southeast Asia. Grab's offering is the largest Asian convertible-bond deal denominated in US dollars since Ping An's US$3.5 billion deal in July 2024, and the biggest by a non-Chinese company since Korean chipmaker SK Hynix's US$1.7 billion issuance in 2023. Ping An last week also issued convertible bonds worth US$1.5 billion, denominated in Hong Kong dollars.
Free Malaysia Today
10-06-2025
- Business
- Free Malaysia Today
Grab plans US$1.25bil convertible bond sale for acquisitions
Grab's app is ubiquitous in Southeast Asia for ride-hailing and food delivery. (AFP pic) SINGAPORE : Grab Holdings Ltd is planning a US$1.25 billion sale of bonds convertible into stock, partly to bulk up its warchest for acquisitions amid signs that talks to take over rival delivery-and-transport provider GoTo Group have stalled. Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride-hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said in a statement yesterday. The securities will carry a coupon of as much as 0.5% a year, payable semi-annually, according to terms of the deal seen by Bloomberg News. Grab joins the flurry of sales of bonds that can be swapped into stock by Asian companies this year. That's particularly been the case with Chinese firms as issuers from Baidu Inc to Ping An Insurance Group Co of China announced sizeable deals in recent months. Aside from possible acquisitions, Grab said it plans some share buybacks – the company has US$274 million remaining under its share-repurchase program as of the end of March. The bonds will be redeemable, under certain conditions, from mid-2028. As for the GoTo acquisition, Grab yesterday signalled that it was halting or at least pausing a planned US$7 billion acquisition. The pair of ride-hailing and food-delivery companies have held on-and-off talks for years but a combination never materialised, partly because of antitrust concerns likely to arise from combining the two dominant players in Southeast Asia. Grab's offering is the largest Asian convertible-bond deal denominated in US dollars since Ping An's US$3.5 billion deal in July 2024, and the biggest by a non-Chinese company since Korean chipmaker SK Hynix Inc's US$1.7 billion issuance in 2023. Ping An last week also issued convertible bonds worth US$1.5 billion, denominated in Hong Kong dollars. Morgan Stanley, HSBC Holdings Plc and JPMorgan Chase & Co are joint global coordinators of the deal.
Bloomberg
10-06-2025
- Business
- Bloomberg
Grab Plans $1.25 Billion Convertible Bond Sale for Acquisitions
Grab Holdings Ltd. is planning a $1.25 billion sale of bonds convertible into stock, partly to bulk up its warchest for acquisitions amid signs that talks to take over rival delivery-and-transport provider GoTo Group have stalled. Singapore-based Grab, whose app is ubiquitous in Southeast Asia for ride hailing and food delivery, will issue convertible bonds that mature on June 15, 2030, it said in a statement Monday. The securities will carry a coupon of as much as 0.5% a year, payable semiannually, according to terms of the deal seen by Bloomberg News.
Bloomberg
09-06-2025
- Business
- Bloomberg
Grab Says It's Not in Talks to Buy GoTo ‘at This Time'
Grab Holdings Ltd. said it isn't in talks to acquire Southeast Asia internet peer GoTo Group 'at this time,' signaling it's halting or at least pausing a planned $7 billion acquisition of its Southeast Asia internet peer. 'The parties are not involved in any discussions at this time and Grab has not entered into any definitive agreements,' Grab said in a statement Monday. 'Indonesia continues to be an important country in serving our mission as we continue to outserve our Indonesian customers, driver- and merchant-partners.'
Bloomberg
06-06-2025
- Business
- Bloomberg
Indonesia's Wealth Fund Weighs Role in $7 Billion Grab-GoTo Deal
Indonesia's sovereign wealth fund Danantara is considering a role in Grab Holdings Ltd. 's planned $7 billion acquisition of GoTo Group, potentially allowing the country's government to own a slice of an Asian internet powerhouse. Danantara has started preliminary discussions with GoTo to acquire a minority stake in a combined entity, according to people familiar with the matter. That could help assuage concerns in the Indonesian government resulting from the sale of a national tech champion to Singapore's Grab, the people said.
