Central Retail Corporation Public Company Limited (CRC) Thailand’s #1 Retail and Omnicance Platform Leader Announced the closing of a major deal to acquire Grab Thailand, ASEAN’s No.1 Superapp, with an investment of 4.5 billion baht, acapping 67% of Porto Worldwide Limited (“Porto WW”) shares, which invested in Grab Taxi Holdings (Thailand) Co., Ltd. In addition, there is a chance that Central Retail will benefit from the additional investment from the right to redeem shares in Grab Taxi Holdings (Thailand) to shares of Grab Holdings Limited (“GHL”). Grab’s parent company will be listed on the NASDAQ Stock Exchange in the United States on December 3, 2021 with a value of GHL shares at the IPO price (US$10) that Porto WW will hold if it exercises the right to redeem shares, amounting to approximately BAHT 14 billion*.
“Grab is the first Decacorn startup in ASEAN (a startup worth $10 billion or more), Central Retail decided to invest in Grab because it recognized grab superapp’s rapidly growing potential and leadership in the ASEAN region. Today is an important step forward and pride that we have made a common commitment to enhance Thailand’s retail and service industry. Join the push for thailand’s economy to move forward steadily. We are committed and ready to lead the organization towards sustainable development and growth.
Source: The Thaiger