Grab Buys 60% of Atome for $1.49 Billion as It Targets $500 Million EBITDA
Updated
Updated · CNBC · Sep 16
Grab Buys 60% of Atome for $1.49 Billion as It Targets $500 Million EBITDA
3 articles · Updated · CNBC · Sep 16
Summary
$1.49 billion will buy Grab an initial 60% controlling stake in Singapore-based Atome Financial, with the remaining 40% slated for purchase about two years after the first closing.
The two-stage structure is meant to de-risk capital allocation while giving Grab time to integrate Atome and develop synergies, even as it keeps Atome's management team in place.
Atome expands Grab's reach in consumer lending and into travel, beauty and e-commerce merchants where Grab has had less exposure, helping deepen its financial services push.
Grab said the deal should be accretive and helped lift its 2028 outlook, with financial services now expected to generate $500 million in adjusted EBITDA; Atome's contribution should build from late next year into 2028.
Nasdaq-listed Grab shares fell 3.64% after the announcement, while the company also flagged micro-investing and broader work with regulators on fair credit access in Southeast Asia.