A&O Shearman, Linklaters and Carey Olsen have advised on Advance Intelligence Group’s (AIGL) 60% stake sale in its subsidiary Neuroncredit, which operates as Atome Financial, to Grab for USD1.49 billion.
The deal was one of Southeast Asia’s most significant fintech transactions to date and required navigating regulatory regimes in Singapore, Malaysia, the Philippines, Indonesia and Thailand, A&O Shearman said. The transaction also involved a two-tranche acquisition structure incorporating performance-linked valuation provisions for the remaining 40% stake.
Partner Tom Jokelson led the A&O Shearman team, with support from Singapore managing partner Shuhui Kwok.
Linklaters advised Grab, with the team led by corporate partner Niranjan Arasaratnam, who is also co-head of the firm’s global technology, media and telecommunications sector, counsel Daniel Tan, managing associates Christopher Koay, Xiao Tong Lim and Dave Yeo, and associate Yee Chong Ng.
Carey Olsen acted as Cayman Islands counsel to AIGL. Anthony McKenzie, managing partner of the Singapore office, led the team, which included counsel Eng How Cheow and Maggie Yan, and associate Anastasija Kornejeva.
Atome Financial is a Southeast Asian digital consumer finance platform providing buy now, pay later services, digital loans, cards and insurance. Grab said the platform operateed in Singapore, Malaysia, the Philippines, Indonesia and Thailand, and had served 25 million cumulative transacted users.
Grab’s financial services offering includes payments, digital banking, partner lending, insurance and consumer lending. The company said the acquisition would give it access to an established, scaled consumer-lending platform through Atome Financial.
The transaction is set to be completed by the third quarter of 2027 and is subject to regulatory approvals and other customary conditions.
