Singapore’s Grab Delays Merger Completion to Fourth Quarter
- Ride-hailing giant previously expected SPAC deal closing in 3Q
- Business grows, led by food delivery demand amid pandemic
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Singapore’s Grab Holdings Inc. postponed the expected completion of its merger with a U.S. blank-check company as the ride-hailing and food-delivery giant works on a financial audit of the past three years.
The deal, set to be one of the largest-ever mergers with a blank-check company, is now expected to be completed in the fourth quarter of this year, the company said in a statement on Wednesday. When announcing the merger in April, Grab expected completion in the third quarter.