Grab Holdings Inc. has expanded its ownership to almost 90 percent of PT Visionet Internasional, the developer of digital payment platform OVO, by acquiring stakes in the company from founder Lippo Group and e-commerce giant PT Tokopedia. The Southeast Asian technology company previously owned 39 percent of shares in PT Bumi Cakrawala Perkasa, OVO’s parent company, while Lippo Group and Tokopedia respectively owned 7.2 percent and 36.1 percent. OVO confirmed the deal in a statement on Tuesday, saying the share restructuring was taken in line with its plans. “Change in ownership structure is a common part of a technology company`s journey,” the statement read. “With the support of shareholders, including a number of local investors who will soon enter, OVO hopes to accelerate its digital transformation.”

https://www.thejakartapost.com/news/2021/10/06/grab-buys-tokopedias-lippos-shares-in-ovo.html

By Jakarta Post

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