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Grab faces $2bn payout to Uber if no IPO by 2023

US ride-hailer has redemption right according to prospectus

Grab and Uber competed heavily in Southeast Asia until March 2018 when Grab acquired Uber's regional business.   © Reuters

SINGAPORE -- Grab faces a $2 billion payout to Uber Technologies if the Singaporean ride hailer does not go public by March 2023.

Uber's right to redeem its 23% stake in Grab for cash was revealed in the U.S. ride-hailing giant's initial public offering prospectus released Thursday. This suggests a possible time frame for when Grab is planning to launch its own IPO.

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