Grab looks to strike a deal to acquire Indonesia's GoTo in Q2, sources say
SINGAPORE/HONG KONG, May 7 (Reuters) - U.S.-listed ride-hailing and food delivery firm Grab (GRAB.O), opens new tab is looking to strike a deal to take over smaller Indonesian rival GoTo (GOTO.JK), opens new tab in the second quarter, two sources with knowledge of the matter said.
Singapore-headquartered Grab has hired advisors to work on the proposed deal, the two sources added. The deal is subjected to terms such as financing, which Grab is in discussion with banks with, one of the sources added.
Both Grab and GoTo declined to comment.
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