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Indonesia wealth fund considers stake in Grab-GoTo deal, Bloomberg News reports
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Indonesia wealth fund considers stake in Grab-GoTo deal, Bloomberg News reports
Jun 5, 2025 9:05 PM

June 6 (Reuters) - Newly-launched sovereign wealth fund

Danantara Indonesia is in early talks with GoTo to get

a piece of U.S.-listed rival Grab's potential buyout of

the ride-hailing and food delivery firm, Bloomberg News reported

on Friday.

The fund is seeking a minority stake in the combined entity,

which could help ease the Indonesian government's concerns of

Singapore-headquartered Grab owning the country's biggest tech

firm, the report said, citing people familiar with the matter.

Indonesia's antitrust regulator last month started research

aimed at identifying risks from a possible deal between the tech

giants, who have yet to confirm merger talks.

Grab is looking to strike a deal in the second quarter, and

could value GoTo at around $7 billion, sources with knowledge of

the matter told Reuters last month.

The companies have made progress on the structure of the

deal, but talks had slowed down recently due to potential

regulatory demands, Bloomberg News said.

Indonesia launched Danantara in February, aiming to invest

in a wide range of projects from metal processing to artificial

intelligence. It will hold government stakes in state firms and

is intended to operate like Singapore's investment arm Temasek.

GoTo declined to comment, while Danantara Indonesia and Grab

did not immediately respond to requests for comments.

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