Carey Olsen is handling the Cayman Islands legal work on Grab’s US$1.49 billion acquisition of a controlling stake in Atome Financial.
The transaction will see Grab Holdings Limited acquire a 60% equity interest in Neuroncredit Pte Ltd, which operates as Atome Financial, from Advance Intelligence Group Limited (AIGL).
The proposed acquisition is expected to complete by Q3 2027, subject to regulatory approvals and other customary closing conditions.
Carey Olsen is acting as Cayman counsel to AIGL, with the firm’s work focused on the Cayman legal aspects of the transaction. A&O Shearman is serving as lead transaction counsel.
The deal involves regulatory requirements across Singapore, Malaysia, the Philippines, Indonesia and Thailand.
It also includes a two-tranche acquisition structure with performance-based valuation mechanics for the remaining equity interest.
The Carey Olsen team is led by partner Anthony McKenzie, with counsel Eng How Cheow, counsel Maggie Yan and associate Anastasija Kornejeva also working on the transaction.
In a press release on 28 September, McKenzie said: “We are pleased to have supported Advance Intelligence Group on this landmark transaction.
“The deal reflects the continued growth and maturity of Southeast Asia’s digital financial services market and highlights the increasing sophistication of cross-border fintech transactions in the region.”
The transaction is one of several recent capital markets and corporate matters handled by Carey Olsen’s Cayman team.
In August, the corporate team worked with NorthStrive Acquisition Corp I on its $100 million initial public offering on the Nasdaq Stock Market.
