Grab in talks to sell minority stake in Thai entity to Central Group

Southeast Asia’s ride-hailing major Grab is learnt to be in talks with Thailand’s largest retailer, Central Group, to sell a minority stake in its Thai entity.

According to a source familiar with the development, this will be a “deeply strategic partnership” that will see Grab tap into Central’s extensive business presence in the country. Central did not respond to a request for comment.

Grab currently offers ride-hailing, parcel delivery and food delivery services in Thailand. It also plans to launch GrabFresh, its grocery delivery service in the country by this year.

According to Reuters, which first reported the development, Grab is also interested in partnering with JD Central, a $500-million e-commerce joint venture between Central and Chinese e-commerce giant is also an investor in Grab’s rival Go-Jek.

Earlier this month, Grab confirmed that it picked up a minority stake in HappyFresh, a grocery delivery startup. This portal has earlier reported that the ride-hailing firm is likely to have acquired a minority stake in Moca, a Vietnamese mobile payments firm.

Grab has also entered into collaborations with Ping An Good Doctor and Yahoo! as it looks to expand its gamut of services and help it achieve its goal to become a one-stop “super app” for Southeast Asian users.

The post Grab in talks to sell minority stake in Thai entity to Central Group appeared first on DealStreetAsia.

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