Head of M&A Lam Shiao Ning acted for Grab Inc. in its acquisition of Kudo Digital Solutions Pte Ltd
Oon & Bazul’s M&A Practice acted for Grab Inc. in its acquisition of the entire issued and paid-up share capital of Kudo Digital Solutions Pte Ltd (KDS), the holding company of an Indonesian online payment start-up PT Kudo Teknologi Indonesia (KTI) in 2017.
As the acquisition was primarily for the purpose of acquiring the underlying Indonesian entity KTI, there was extensive coordination required with the Indonesian counsel on points of Indonesian law as well as Indonesian regulatory issues and requirements. As the employees were all employed by KTI, our lawyers also had to take into account Indonesian law issues which raised enforceability concerns.
This transaction was led by Head of M&A and Corporate Finance, Lam Shiao Ning.