Uber Technologies Inc. has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said.
The agreement — – which includes all of Uber’s operations in Southeast Asia as well as Uber Eats in the region — gives Uber a stake of between 25 percent and 30 percent in the new combined business, the people said, asking not to be identified ahead of an official announcement. The deal, which Bloomberg outlined earlier this month, marks Uber’s operational exit from yet another major market and hands a victory to Grab as it battles local competitor Go-Jek.
https://www.bloombergquint.com/business/2018/03/25/uber-is-said-to-reach-agreement-on-southeast-asian-sale-to-grab
