Grab looks to strike a deal to acquire Indonesia's GoTo in Q2, sources say
By Yantoultra Ngui, Kane Wu and Fanny Potkin
SINGAPORE/HONG KONG (Reuters) -U.S.-listed ride-hailing and food delivery firm Grab is looking to strike a deal to take over smaller Indonesian rival GoTo 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.
(Reporting by Yantoultra Ngui, Fanny Potkin in Singapore and Kane Wu in Hong Kong, Editing by Louise Heavens)
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