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Investing.com -- Southeast Asian ride-hailing giant, Grab, is reportedly pursuing a deal to acquire its Indonesian competitor, GoTo, in the second quarter of this year. The information comes from two anonymous individuals with knowledge of the matter.
Grab has enlisted the help of advisers to assist with the proposed acquisition. The deal, however, is conditional on certain terms, including financing. Grab is currently in talks with several banks to discuss potential financing options for this acquisition.
The acquisition of GoTo would mark a significant development in the Southeast Asian ride-hailing market. However, the deal is still subject to the successful negotiation of terms and securing of necessary financing.
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