Stay updated with breaking news from Altimeter corp. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Apr 7, 2021 6:49 AM EDT Ride-hailing company Grab Holdings will go public through a merger with a special purpose acquisition company, or SPAC, that could value the Asia-based ride-hailing giant at more than $35 billion, making it the largest ever blank-check deal. The Financial Times reported Wednesday that Grab, which also offers food delivery and mobile digital payments services, will raise $2.5 billion in total financing, with nearly $1.2 billion coming via a SPAC owned by tech-focused venture capital firm Altimeter Capital. Grab could finalize an agreement to list with one of Altimeter Capital’s SPACs as soon as this week, the FT said. Grab has so far raised about $12 billion and has some $5 billion in reserves, according to the FT. ....