Uber’s Southeast Asia operations acquired by Grab

Following weeks of speculation, Uber has sold its business in Southeast Asia to Singapore-based rival Grab. The deal will net Uber a 27.5 percent stake in Grab, while Uber’s CEO Dara Khosrowshahi will join Grab’s board. It’s said to be the largest acquisition by a Southeast Asian firm. Grab, meanwhile, will take over Uber’s operations in eight countries: Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. That also includes UberEats in three of those countries, which will be folded into GrabFood. That’s huge for Grab, which is presently valued at $6 billion, and already counts 90 million app…

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