Malaysia-based budget carrier AirAsia Group has announced it will buy Indonesian ride-hailing and payments company Gojek's Thailand business in a stock swap.
AirAsia will be giving Gojek a 4.76% stake in the airline's lifestyle platform. AirAsia will acquire Gojek's business in return for USD 50 million worth of shares in AirAsia SuperApp, valuing the division at around USD 1 billion. The agreement with the Indonesian startup unicorn comes just a week after AirAsia applied for a digital banking licence in Malaysia, signalling a shift in focus towards digital business as most of its fleet remains grounded amid coronavirus restrictions, according to Reuters.
AirAsia SuperApp offers travel, ecommerce and financial services and is one of three companies under the AirAsia Digital group, the press agency continues to expain. The others are logistics venture Teleport and the BigPay fintech business.
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