Altimeter Growth Corp Completes Business Combination with Grab; $4.5B Raised

December 1, 2021

Grab Holdings Limited completed a business combination with Altimeter Growth Corp (AGC) and will begin trading on the Nasdaq following the transaction. The deal raised gross proceeds of approximately US$4.5 billion, including a US$4.0 billion PIPE led by funds managed by Altimeter Capital, to fund expansion of Grab's superapp ecosystem across ride-hailing, deliveries and digital financial services.

Buyers
Altimeter Growth Corp (AGC), Altimeter Capital Management (funds managed by Altimeter), BlackRock, Counterpoint Global (Morgan Stanley Investment Management), T. Rowe Price Associates, Inc., Fidelity International / Fidelity Management and Research LLC, Janus Henderson Investors, Mubadala, Nuveen, Permodalan Nasional Berhad (PNB), Temasek, K3 Ventures, Djarum (family group), Sariaatmadja family (family group), Sinar Mas (family group)
Targets
Grab Holdings Limited
Industry
Transportation
Location
Singapore
Transaction Type
Buyout

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