Nasdaq-listed Singapore cab and ride hailing service Grab, signed definitive agreements to acquire a 100% stake in US digital financial services company, Stash Financial, according to a company release on Thursday.
Under the agreement, 50.1% equity interest payment will be made at closing at an enterprise value of $425 million, while remaining interest payment will be made over three years after closing.
The deal is subject to regulatory approvals and is slated to conclude by the third quarter of the year.
The move is part of the company's strategy to accelerate its entry into mass-market investment segment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.