Thailand’s Central Group planning to take a position $200 million in Grab

Hurry , Thailand’s biggest buying Centre and department retailer operator, is planning to take a position US$200 million (6.3 billion Thai baht) in ride-hailing big ‘Grab’, based on sources ‘familiar with the matter’ at present.
The deal seals a strategic partnership the place the Thai retail giant will assist Grab expand its enterprise in Thailand. Central Group would put cash into Grab’s Thai business unit.
Today Grab and Central Group have both declined to comment.
Talks of the Central Group shopping for a substantial minority stake in Grab’s Thai enterprise was first mooted in an article in Bloomberg last yr.
Grab, which bought out Uber Technologies business in Southeast Asia, is expanding past its roots as a ride-hailing app by adding services such as meals delivery, funds and logistics. GrabFood is now available in six main Southeast Asian countries and GrabExpress, its logistics and items delivery service, in 150 cities, according to the company.
Analysts believe the tie in is a perfect fit for Central as they give the impression of being on-line for growth and want to maintain their supply platforms in house.
The Singapore-based Grab final 12 months outlined bold fundraising plans and predicted that gross sales will double to $2 billion in 2019..

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