Gojek, Tokopedia seek shareholders’ approval for proposed merger deal

Singapore: Indonesian ride-hailing and payments company Gojek and the country’s leading e-commerce business Tokopedia are close to sealing their proposed merger as they prepare to seek formal shareholder approval, three people close to the matter told Reuters on Friday.

A GoJek-Tokopedia merger deal — which sources had previously pegged at $18 billion — would create a technology powerhouse offering online shopping, courier services, ride-hailing, food delivery and other services in Southeast Asia’s largest economy.

Alibaba Group Holding Ltd. and SoftBank Group Corp. are among Tokopedia’s investors, while Gojek’s include Warburg Pincus and Tencent Holdings.