https://www.cnbc.com/2018/03/25/uber-agrees-to-sell-southeast-asia-business-to-grab-after-costly-battle.html

In a deal first reported by CNBC in February, Uber has agreed to sell its business in Southeast Asia to Singapore-based regional rival Grab, the companies said in a statement on Monday.

The deal will see Grab merging Uber's ride-hailing and food delivery businesses with its own operations. Meanwhile, the San Francisco-based company will acquire a 27.5 percent stake in Grab and Uber CEO Dara Khosrowshahi will join the firm's board.