As part of the transaction, Uber will take a 27.5% stake in Singapore-based Grab and Uber CEO Dara Khosrowshahi will join Grab's board. For Grab, the deal is a boon for its meal-delivery service, which will now merge with Uber Eats. A more robust food service will give Grab an advantage over Go-Jek, according to a person close to Grab. In addition to its stakes in Uber and Grab, SoftBank is also one of the main investors in several other big ride-hailing firms including China's Didi Chuxing and India's Ola. Uber invested US$700mil (RM2.73bil) in its South-East Asia business, less than the US$2bil (RM7.80bil) it burned through in China before ceding its operations there to Didi.

Source: The Star March 26, 2018 04:18 UTC