Indonesia's Gojek, Tokopedia announce merger in country's biggest deal

Reuters

Posted at May 17 2021 01:36 PM

SINGAPORE - Indonesian ride-hailing and payments firm Gojek and e-commerce leader Tokopedia announced a merger on Monday in a transaction that would create a technology powerhouse in the country's largest deal.

Sources familiar with the situation had earlier said the companies were seeking a $18 billion merger. Neither firm confirmed a valuation for the merged group.

Alibaba Group Holding and SoftBank Group Corp are among Tokopedia's investors, while Gojek's include Warburg Pincus and Tencent Holdings. 

(Reporting by Anshuman Daga: Editing by Neil Fullick and Kenneth Maxwell)