Grab Controls 90% OVO Ownership, Tokopedia Exits?

Jakarta, CNBC Indonesia – Grab Indonesia’s parent company, Grab Holdings Inc. increased its shareholding in the digital wallet company OVO to 90% from the previous 39% through PT Bumi Cakrawala Perkasa.

“Grab Holdings Inc. increased its ownership of the Indonesian electronic wallet provider OVO to around 90% by acquiring shares from PT Tokopedia and Lippo Group,” citing Bloomberg, Monday (4/10/2021).

Singapore-based Grab also plans to go public through a merger with Altimeter Growth Corp by the end of this year.

Prior to this transaction, the Lippo Group previously held a 7.2% stake in OVO’s parent, Bumi Cakrawala Perkasa (BCP).

Grab is the largest shareholder of 39.2% and Tokopedia has 36.1% stake in BCP.

Another shareholder, Tokyo Century Corporation, owns 7.5%. The Sustainable Innovation Forum was recorded at 5%.

With this transaction, Grab is increasingly expanding its business ecosystem, not only based on ride-hailing, but also into financial services.

“Grab has grown beyond a ride-hailing service into a financial service and initially invested in Ovo as part of that effort,” the report said.

[Gambas:Video CNBC]

(hps / hps)



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