January 31, 2019 / 3:19 AM / 22 days ago

Thai Central Group confirms $200 mln investment in Grab's Thai entity - statement

BANGKOK, Jan 31 (Reuters) - Thailand’s Central Group, the country’s largest retailer, confirmed on Thursday in a statement that it will invest $200 million in a local entity of Singapore-based ride-hailing application Grab.

Central Group said it will “acquire a significant non-controlling stake” in the Thai entity.

The statement confirmed a Reuters report on Wednesday.

Reuters first reported in September that the two companies were in talks over the sale. (Reporting by Chayut Setboonsarng; writing by Patpicha Tanakasempipat; editing by Richard Pullin)

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