Singapore: Announced Phase 2 review of Grab Rentals proposed acquisition of Trans-cab

On 31 January 2024, the Competition and Consumer Commission of Singapore (CCCS) announced the initiation of a Phase 2 review of the proposed acquisition of Trans-Cab Holdings Ltd. by Grab Rentals Pte. Ltd. (GrabRentals) Limited, the owner of a ride-hailing platform, of Trans-cab Holdings Ltd. (Trans-cab). This follows the further filing of relevant documents by the parties to CCCS on 25 January 2024. The Phase 2 review, which is an in-depth review of the acquisition, was triggered after the CCCS raised competition concerns at the end of the preliminary Phase 1 review, and found the commitments proposed by Grab to address these concerns insufficient. At the end of the Phase 2 review, CCCS decides whether to issue a favourable or unfavourable decision regarding the acquisition.