It’s official: Uber sells Southeast Asia business to Grab

It’s official, Uberhas announced that it has sold its Southeast Asia-based business to rival Grab .
The deal follows a month of speculation, and it will see Grab — which is valued at over $6 billion — buy up Uber’s ride-sharing business in eight countries in Southeast Asia. It will also take over Uber Eats, which is currently present in three, and expand that service across the region during the first half of this year.
In exchange, Uber will get a 27.5 percent stake