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Grab Holdings Ltd (NASDAQ:GRAB) has initiated due diligence on Indonesia’s GoTo Group (JK:GOTO) as it explores a potential acquisition, according to Bloomberg News. The Singapore-based ride-hailing and delivery giant is assessing GoTo’s financials, contracts, and operations in ongoing discussions.
Sources indicate that Grab, GoTo, and key stakeholders are considering various deal structures and valuations, though talks remain in early stages and may not lead to a final agreement. A merger has been a topic of discussion for years, but regulatory challenges, particularly antitrust concerns, have posed obstacles.
Bloomberg previously reported that Grab is weighing an all-stock acquisition of GoTo, valuing the Indonesian tech firm at over $7 billion. One potential offer under discussion exceeds 100 rupiah per share.
A merger between the two companies could reshape Southeast Asia’s competitive tech landscape, consolidating their strongholds in ride-hailing, food delivery, and digital payments. However, regulatory scrutiny remains a key factor in determining the feasibility of such a deal.
Neither Grab nor GoTo has officially commented on the ongoing negotiations.
