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Sard Verbinnen & Co. and Blueshirt Group are handling Grab, Singapore-based “superapp,” which is going public via the largest-ever SPAC deal.
Grab is combining with Silicon Valley’s Altimeter Growth Group in a transaction valued at $40B. Its stock will trade on the NASDAQ.
Launched in 2012 as Southeast Asia’s version of Uber, the Grab superapp has access to more than 9M drivers, merchants and agents handling food/package delivery, mobile payments and financial services in more than 425 cities in eight countries.
“It gives us immense pride to represent Southeast Asia in the global public markets,” Grab CEO Anthony Tan said in a statement.
He called the SPAC deal “a milestone to open up access for everyone to benefit from the digital economy.”
Sard Verbinnen & Co. handles US media inquiries about the deal, while Next Fifteen Communications Group’s Blueshirt unit deals with the investment community.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
Collected Strategies handles Exact Sciences as the cancer screening leader is acquired by Abbott in a deal with an enterprise value of $23B.
Joele Frank represents Philadelphia-based Axalta Coating Systems as it agrees to merge with Amsterdam’s AkzoNobel in a deal valued in the $25B range.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
