Grab acquiring supermarket chain Jaya Grocer

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SINGAPORE: Grab Holdings Ltd, a unit of South-East Asia’s largest ride-hailing and supply group, is shopping for prime premium grocery chain Jaya Grocer Holdings Sdn Bhd, in line with submitting with the US Securities and Exchange Commission.

The Singapore-based Grab signed an settlement with the shareholders of Jaya Grocer to purchase all the grocery chain’s odd shares and 75% choice shares for an undisclosed quantity.

Grab has the choice to purchase the remaining choice shares after the deal closes, in line with the submitting dated Dec 13.

The acquisition is Grab’s largest because it took management of Indonesian pockets supplier Ovo earlier this yr.

The South-East Asian Internet big has employed merger and acquisition sparingly since notably taking up Uber Technologies Inc’s regional ride-hailing operations.

The deal comes weeks after Jaya Grocer’s founder, the Teng household, purchased again its whole stake within the chain from South-East Asia-focused personal fairness investor AIGF Advisors Pte.

Jaya runs 40 shops throughout Peninsular Malaysia, with the bulk being situated within the Klang Valley.

For native regulatory functions, Grab will companion with a neighborhood investor, who will personal 50% of the voting shares in Jaya Grocer. — Bloomberg



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