SINGAPORE -- Singapore's Grab will acquire high-end Malaysian supermarket chain Jaya Grocer, a foray into retail that aims to bolster the superapp operator's mainstay delivery business.
Grab Holdings will acquire all of Jaya's outstanding ordinary shares and 75% of preferred shares by the end of March, according to a filing Monday with the U.S. Securities and Exchange Commission. This comes less than two weeks after the Nasdaq listing of Southeast Asia's largest ride-hailing startup through a record-breaking merger with a special-purpose acquisition company.
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