The Zhitong Finance App learned that Grab (GRAB.US) is acquiring Singapore-based Buy Now, Pay Later (BNPL) platform Atome Financial to expand its consumer credit business. The company announced that it will acquire 60% of Atome's controlling shares for $1.49 billion in cash and plans to acquire the remaining 40% approximately two years after the initial transaction is completed. Grab's chief financial officer Peter Oey said on Wednesday that this two-stage structure was partly to “de-risk” the deal from a capital allocation perspective.

The Zhitong Finance App learned that Grab (GRAB.US) is acquiring Singapore-based Buy Now, Pay Later (BNPL) platform Atome Financial to expand its consumer credit business. The company announced that it will acquire 60% of Atome's controlling shares for $1.49 billion in cash and plans to acquire the remaining 40% approximately two years after the initial transaction is completed. Grab's chief financial officer Peter Oey said on Wednesday that this two-stage structure was partly to “de-risk” the deal from a capital allocation perspective.