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Uber to promote its Southeast Asia enterprise to Seize, a regional rival

Uber, which for years unfold throughout the globe with command-and-conquer rapaciousness, is pulling again from one other main ride-hailing market.

The San Francisco firm is promoting its Southeast Asia journey and food-delivery companies to Seize, a rival from Singapore, within the newest transfer to shore up its funds and refocus its enterprise forward of a deliberate public itemizing.

Uber will get a 27.5 % stake in Seize in trade. Uber CEO Dara Khosrowshahi will be part of Seize’s board. Additional monetary phrases of Sunday’s deal weren’t disclosed.

The detente in Southeast Asia, which has similarities to offers Uber has made in China and Russia in recent times, comes at a time of bigger adjustments on the firm.

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