UPDATE 1-SoftBank's Vision Fund nearing $1.5 bln investment in SE Asia's Grab -source [Reuters (UK)]
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Source: Reuters
SoftBank's Vision Fund nearing $1.5 billion investment in SE Asia's Grab -source | Reuters 3 Min Read SINGAPORE (Reuters) - SoftBank Group Corp ( 9984.T ) is nearing a deal to invest $1.5 billion in Grab, three times a previously expected $500 million, as Southeast Asia’s biggest ride-hailing firm looks to expand, a person with knowledge of the matter said. Six-year old Grab has so far raised over $6.5 billion, led by SoftBank, Chinese ride-hailing firm Didi Chuxing and Toyota Motor Corp ( 7203.T ). After a fund raising in August, Grab was valued at around $11 billion. SoftBank first bought a stake worth $250 million in Grab in 2014 just as Grab began competing with Uber Technologies [UBER.UL] in Southeast Asia. Its latest funding in the ride-hailing firm will be made from its Vision Fund, which after raising more than $93 billion last year is the world’s largest private-equity fund. SoftBank is expected to finalize its investment in Grab this month and an announcement is likely n
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