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Latest SPAC News: Grab’s sales jump ahead of merger

Grab’s sales jump 39% in Q1, ahead of record SPAC deal

Grab, Southeast Asia’s biggest ride hailing-to-food delivery group’s first-quarter adjusted net sales rose 39% to a record $507 million and the Singapore-based firm reduced its losses on the back of a strong performance in its deliveries business.

Grab, which is going public through a record merger worth approximately $40 billion with Altimeter Growth Corp (AGC.O) reiterated that it expects to complete the deal in the fourth quarter.

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