By Peter Nurse
Investing.com - Grab Holdings. southeast Asia’s largest ride-hailing and food delivery company, announced Tuesday that it intends to merge with Altimeter Growth Corp, in order to go public in the U.S..
The deal is valued at just under $40 billion, the largest transaction involving a SPAC, or special purpose acquisition company, and would provide SoftBank-backed Grab with around $4.5 billion in cash.
Grab is based in Singapore, but has operations throughout most of southeast Asia, delivering such services as transportation, food delivery, hotel bookings and online banking from its app.