Grab to take majority stake in Indonesia’s OVO

Southeast Asian ride-hailing and payments firm Grab has increased its stake in Indonesian e-wallet OVO as part of ownership restructuring, a deal pending regulator approval, the Indonesian firm said in a statement.

Grab will own 90% of the firm, up from 39% currently, according to a regulatory filing submitted to Indonesian authorities.

Three sources told Reuters that Grab had purchased the stakes of Indonesian conglomerate Lippo, which had launched OVO, and e-commerce platform Tokopedia, which is finalizing its own merger with Grab rival Gojek. Grab and Lippo declined to comment, while Tokopedia did not immediately respond to requests for comment.

(Reuters)

The post Grab to take majority stake in Indonesia’s OVO appeared first on Metaforespress.

Keywords
Αναζητήσεις
rss
Τυχαία Θέματα
Grab,Indonesia’s OVO