Deals
Thailand's Central Group Plans to Invest $200 Million in Grab
- The retail-to-property conglomerate is expanding online
- Central Group is said to help Grab expand across Thailand
A driver uses the Grab application on a smartphone in Bangkok.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Central Group, which controls Thailand’s biggest shopping mall and department store operator, plans to invest $200 million in ride-hailing giant Grab, people familiar with the matter said.
The deal seals a strategic partnership under which the conglomerate will help Grab expand its business in Thailand, said the people, who asked not to be named because the information is private. Central Group will invest in Grab’s Thai unit, one of the people said. Grab and Central Group representatives declined to comment.