"Super app" operator PT Go-Jek Indonesia is closing in on a deal to acquire a 5% stake in local taxi company PT Blue Bird Tbk for about US$30 million, Bloomberg News reported Dec. 16, citing people with knowledge of the matter.
The deal reportedly represents a premium of more than 20% to Blue Bird's share price of 2,750 Indonesian rupiah as of the close Dec. 16 in Jakarta and would value the company at about US$600 million.
Go-Jek provides reservations services for Blue Bird's taxis on its app. The deal is reportedly part of Go-Jek's strategy to expand its services across areas such as food delivery and digital payments.
Blue Bird could not be reached for comment, while Go-Jek did not immediately respond to S&P Global Market Intelligence's request for comment.
On Dec. 11, Bloomberg reported that Go-Jek was nearing a US$120 million deal to acquire mobile payment startup Moka.
As of Dec. 16, US$1 was equivalent to 14,000 Indonesian rupiah.