SINGAPORE — Grab will acquire Singapore's third-largest taxi operator Trans-cab, which has a fleet of more than 2,500 vehicles.
Announcing the move on Thursday , the two companies said 100 per cent of the shares in Trans-cab will be acquired through Grab Rentals.
The deal is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions. She added that the company is entering the deal with"full assurance that Grab will do their best to safeguard the livelihoods of our taxi drivers". The app will enable Trans-cab taxi drivers to manage their earnings and receive bookings from the Grab platform as well as Trans-cab’s existing call centre, all through a single platform, it added.
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