Grab Holdings, Southeast Asia's biggest food delivery company, April 13 signed a merger agreement with U.S.-based Altimeter Growth Corp in a transaction that values Grab of about $39.6 billion and will lead to its public listing, as it was informed by the foreign media.
It is the largest transaction with blank-check company that ever occurred.
The merger agreement is backed by Altimeter Capital with more than $4 billion private investment in public equity provided by investors including BlackRock, Fidelity International, Janus Henderson Investors and Temasek Holdings.
Grab noted its decision to become a public company was driven by strong financial performance in 2020, despite the pandemic.
