AirAsia’s deal with Gojek Thailand brings it closer to its ‘Super App’ dream
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AirAsia will be buying Gojek’s Thailand business in a stock swap.
It could, in turn, give Gojek a boost in Thailand where the startup has lagged in food delivery and ride-hailing competitors.
Gojek will focus on increasing investment in Vietnam and Singapore after the deal is completed.
The low-cost airline considers listing of its digital arm via a SPAC in the United States to raise at least US$300 million.
AirAsia Group Bhd’s digital ambitions looks set to soar to greater heights with its first major cross-border acquisition. Through AirAsia Digital Sdn Bhd (AAD), the company has acquired Indonesian unicorn Gojek’s Thailand business. At the same time, the digital arm of the low-cost carrier is considering listing in the US via a special-purpose acquisition company (SPAC) to raise at least US$ 300 million.
AirAsia buys Gojek s Thai business
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B1.61bn deal to give rise to super app war
published : 8 Jul 2021 at 05:44 Talks between AirAsia and Gojek began around two months ago. (Photo: Seksan Rojjanametakul)
AirAsia is aiming to use its strong network in Thailand to speed up the growth of Gojek in the country and put the loss-ridden service on the path towards profit within one year via upcountry expansion, starting with three key provinces in the fourth quarter.
The group s plan is to boost revenue from digital services to 50% within five years, which will become easier after it agreed to acquire the unit from Indonesia s delivery giant via a share deal worth US$50 million (1.61 billion baht).
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