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let's start a new thread ... Part II was started in 2012 to 2022 (10 years cycle) ...

E-hailing and food delivery super-app Grab is acquiring Malaysia's premium grocery chain Jaya Grocer, according to a filing to the US Securities and Exchange Commission (SEC) New Straits Times reported that Grab did not disclose how much it is offering to buy Jaya Grocer. However, sources claimed that the largest ride-hailing company in Southeast Asia is forking out RM1.5 billion to RM1.8 billion to buy the grocery chain, according to The Edge Markets. Based on the filing to SEC, it is understood that Grab had entered into a share purchase agreement (SPA) with the current shareholders of Jaya Grocer to buy all of the ordinary shares and 75% of the preference shares of Jaya Grocer. "Subject to certain terms, the GHL (Grab Holding Limited) subsidiary will have the option to buy, and the current shareholders will have the option to sell to the GHL subsidiary, the remaining 25% of the preference shares of Jaya Grocer after the closing of the transaction," read the filing. "For local regulatory purposes, GHL intends to partner with a local investor which will own 50% of the voting shares in Jaya Grocer." The closing of the deal is expected to occur in the first quarter of 2022 after the customary conditions are met "Following closing, Jaya Grocer is expected to become a subsidiary of GHL and its financial results will be consolidated by GHL," it said. Grab's share price remains at USD7.20 at the time of writing as it is after-market hours in the US. Grab had on 2 December listed on Nasdaq, a dealer stock market in New York, US The former Malaysian start-up became the largest listing in the US by a Southeast Asian company, reported The Star. Grab was founded by Malaysian Harvard graduates Anthony Tan and Tan Hooi Ling. Its first name was called MyTeksi, before changing to Grab on 28 January 2016. Currently, the super-app company is headquartered in Singapore. As for the history of Jaya Grocer, the company's first outlet was opened in 2007. It was founded by Teng Yew Huat, who is also known for founding Giant Hypermarket. According to New Straits Times, the Teng family reportedly bought back Jaya Grocer's entire stake from AIGF Advisors Pte Ltd, a private equity firm headquartered in Singapore. The sale in November gave the Teng family ownership of the entire shareholding of Jaya Grocer, reported The Edge Markets. AIGF said on 24 November that its investment in Jaya Grocer back in 2016 was part of the fund's strategy of identifying and investing in companies with strong potential as it wanted to work alongside them to enhance the value of their businesses and to create leaders in their respective industries. During the investment period, Jaya Grocer expanded from just over 10 stores to more than 40 today. The full ownership gives them the flexibility to implement their strategic plans for their consolidated shareholding.

link here Hope none of you guys bought the IPO shares