Grab has announced the acquisition of a 60% controlling stake in the buy-now, pay-later platform Atome Financial for $1.49 billion in cash. The company intends to scale its financial services segment, projecting $500 million in adjusted EBITDA by 2028. A second stage to acquire the remaining 40% is planned for approximately two years after the initial transaction closes.
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US coverage focuses on the financial structure of the deal and the company's long-term goals for its financial services segment.
The report notes the immediate market reaction of a 3.64% decline in Grab's share price.
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