Grab Buys Singapore's Third Largest Taxi Operator For Undisclosed Sum
Portfolio Pulse from Lekha Gupta
Grab Holdings Inc's (NASDAQ:GRAB) rental arm, Grab Rentals Pte. Ltd., has agreed to acquire Trans-cab Holdings Ltd., Singapore's third largest taxi operator. The acquisition will include Trans-cab's taxi and car rental business, maintenance workshop, and fuel pump operations. The deal is expected to close in Q4 2023, subject to regulatory approvals. Grab expects the acquisition to drive operational efficiency, reduce costs, and derive savings from scale in areas like auto insurance premiums and parts procurement.
July 20, 2023 | 10:24 am
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Grab's acquisition of Trans-cab Holdings is expected to drive operational efficiency and reduce costs. The deal is expected to close in Q4 2023.
The acquisition of Trans-cab Holdings by Grab is expected to drive operational efficiency and reduce costs, which could potentially increase Grab's profitability. This could have a positive impact on Grab's stock price in the short term.
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