Indonesia’s Emtek group invests $375 million in Grab’s Indonesian unit

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A Grab motor driver is seen in a street in Jakarta
FILE PHOTO: A Grab motor driver is seen in a street in Jakarta, Indonesia, February 13, 2017. REUTERS/Beawiharta

July 26, 2021

SINGAPORE (Reuters) – Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) is investing $375 million in ride-hailing and payment firm Grab’s Indonesia unit, the companies said in a statement on Monday, in what they described as a “strategic alliance.”

(Reporting by Fanny Potkin; Editing by Ed Davies)