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| Name | Symbol | Market | Type |
|---|---|---|---|
| Honda Motor Co Ltd | NYSE:HMC | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.37 | 1.07% | 34.96 | 34.99 | 34.71 | 34.71 | 494,984 | 00:03:02 |
From May 2019 to May 2024
JAKARTA, Indonesia—Honda Motor Co. Ltd. has invested an undisclosed sum in GrabTaxi Holdings Pte. Ltd., boosting the Singapore ride-hailing firm's capital so it can fend off Uber Technologies Inc.'s widening reach in Southeast Asia.
The deal with Honda comes less than two weeks after Grab unveiled a tie-up with Japan's top car-leasing company, Tokyo Century Corp. It highlights how quickly deals have been made under Grab's new president, Ming Maa, a former M&A executive at Japan's SoftBank Group Corp.
In September, SoftBank, which owns U.S. carrier Sprint Corp., led a $750 million Series F funding round in Grab that valued the company, which was co-founded by Anthony Tan, at $3 billion. Tokyo Century participated in the extended round of that series, Grab has said.
Japanese auto makers are working to cement alliances with ride-hailing companies. In May, Toyota Motor Corp. said it invested in Uber as part of a strategic alliance aimed at getting more drivers on the ride-hailing service.
(END) Dow Jones Newswires
December 11, 2016 22:35 ET (03:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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