GoKawiilGrab to buy 60% of BNPL firm Atome for $1.49 billion, plans full acquisition later
Grab Holdings will acquire an initial 60% controlling stake in Singapore-based buy-now-pay-later platform Atome Financial for $1.49 billion in cash, with an option to purchase the remaining 40% about two years after the deal closes. CFO Peter Oey said the staged structure helps de-risk the transaction while giving Grab access to Atome's merchant network in travel, beauty and e-commerce. Grab shares fell 3.64% on Nasdaq after the announcement.