By DayakDaily Team
KUCHING, March 3: Kuala Lumpur-based private equity firm Navis Capital Partners is divesting its entire stake in Eastern Grocer Sdn Bhd, the operator of Everrise supermarkets, to technology giant Grab Holdings Inc.
As reported by The Edge, the financial terms of the deal were not disclosed in the press statement released today.
Navis initially invested in Eastern Grocer Sdn Bhd in 2019, when the supermarket chain primarily served the mass market. Since then, the business has expanded into the premium grocery segment, now operating 19 outlets across Sabah and Sarawak.
Meanwhile, in a separate event today, Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg received a courtesy visit from Grab Malaysia, led by Group Chief Executive Officer and Co-Founder Anthony Tan. The meeting focused on strengthening Grab’s investments in Sarawak in line with the Sarawak Digital Economy Master Plan 2030.
According to the Sarawak Information Department (Japen), Grab Malaysia and Sarawak Digital Economy Corporation Berhad (SDEC) signed a Memorandum of Understanding (MoU) during the visit to accelerate digital transformation in the state.
The initiative aims to support the growth of Sarawak’s digital economy, particularly in the tourism sector and small businesses.
Also present at the meeting were Grab Malaysia’s Managing Director Adelene Foo, Director of Public Affairs and Policy Ebi Azly Abdullah, Head of Commercial Kelvin Lam, and Country Director of Strategy Ben Chin. – DayakDaily
