Although Grab is widely known as an e-hailing service, it is also a one stop application for almost anything; from e-hailing to food deliveries and online grocery shopping. We know how much Grab is prospering, they keep on expanding their empire.
We can also see that prosperity from the frequency of services and features they keep adding on the mobile application for our convenience. Along the road of becoming one of the biggest one stop application, Grab has partnered with hundreds and thousands of not only F&B outlets, but also supermarkets and convenience stores.
If you’re not aware, Jaya Grocer has been up for sale for over a year, although the attempt might not be too successful. Two offers were up for the grocery chain; from Carlyle Group Inc. that is US based, and a European company from Luxembourg, CVC Capital Partners. However, neither of the offer took place. But, little do we know, the Malaysian founded e-hailing company also had its eyes on Jaya Grocer.
Recently, it has been announced that Grab is in the process of buying one of the premium grocery stores in Malaysia, Jaya Grocer. Although according to BFM News on Twitter, the amount of the deal was yet to be disclosed, but it was rumoured to be worth up to RM1.8 billion. The two parties have agreed on letting Grab buy all the ordinary shares and 75% of the preference share of Jaya Grocer Holdings. The remaining 25% of the shares might be bought by Grab when the transaction is finalised. Although, it has only remained as an option as of now.
Grab Holdings Limited is currently looking at the first quarter of 2022 to the completion of the transaction. If everything goes smoothly, Jaya Grocer will be going under Grab and its financial results will be consolidated. Grab also mentioned, “For local regulatory purposes, Grab intends to partner with a local investor who will own 50% of the voting shares in Jaya Grocer.”
So, what do you think of this move made by Grab — do you think any changes will be made with the products brought in by Jaya Grocer before?
Sources: Twitter, The Edge Markets.
