Thailand
Malaysia’s AirAsia to buy Gojek’s Thailand business for $67 million
BENGALURU (REUTERS) – Malaysian budget airline AirAsia Group said its digital units have acquired two Thai technology businesses from Indonesian ride-hailing and payments firm Gojek for US$50 million ($67.4 million), according to a stock exchange filing on Wednesday (July 7).
The acquisition involved 100 per cent of the equity interest in Velox Technology for US$40 million by AirAsia SuperApp, and the entire equity in Velox Fintech for US$10 million by AirAsia Digital.
AirAsia said the acquisitions will be satisfied by the issue of shares in AirAsia SuperApp, whereby the sellers will subscribe to ordinary shares representing 4.76 per cent in AirAsia SuperApp.
Earlier, Nikkei Asia reported citing sources that AirAsia is in talks with Gojek to acquire its business in Thailand.
Under the deal, Gojek would take a stake in AirAsia’s digital arm, while the low-cost carrier would acquire Gojek’s business in Thailand.
A deal with the Indonesian start-up unicorn comes just a week after the loss-making airline applied for a digital banking licence in Malaysia, signaling a shift in focus towards digital business as most of its fleet remains grounded amid coronavirus restrictions.