April 25, 2021

Multinational ride-sharing company discloses potential anti-corruption violation

On April 13, 2021, Altimeter Growth Corporation, a Cayman Islands special-purpose acquisition company (SPAC), disclosed in a securities filing that it had entered into an agreement to merge with Grab Holdings Inc., a Singapore-based multinational ride-hailing company.  In its filing, Altimeter disclosed that Grab had substantially completed an investigation into potential violations of anti-corruptions laws “related to its operations in one of the countries in which it operates” and had voluntarily reported these potential violations to the US Department of Justice.  The disclosure stated that Grab did not believe that the issues investigated would result in material financial penalties, but cautioned that “there can be no assurance” that failure to comply with such laws would not have a material adverse effect on Grab.

Form 8-K | Exhibit 99.3 (Form 8-K)