Gojek and Tokopedia have decided on terms and are seeking investor approval for a merger that could create Indonesia’s largest internet company, a person familiar with the matter said, putting the deal on track for completion as soon as over the summer.

The managements and boards of both startups have agreed on how to proceed with the merger and are now formally seeking approval for the deal from shareholders through a so-called consent package, the person said, asking not to be identified discussing a private matter. The management teams are aligned on strategy and their boards have given significant support, the person added.

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.

Bonus:

  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply

Subscribe

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook