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A&O Shearman advises AIGL on one of Southeast Asia’s most significant fintech transactions

A&O Shearman advises AIGL on one of Southeast Asia’s most significant fintech transactions
Published Date
Sep 21, 2026
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Image of Tom Jokelson
Tom JokelsonPartner, Singapore
Image of Shuhui Kwok
Shuhui KwokPartner, Singapore
A&O Shearman has advised Advance Intelligence Group Limited (AIGL) on the sale of a controlling interest in its subsidiary, Neuroncredit Pte. Ltd. (operating as Atome Financial), to Grab Holdings Limited (NASDAQ: GRAB) in one of Southeast Asia's most significant fintech transactions to date.

As part of the transaction, Grab Holdings Limited (NASDAQ: GRAB) will acquire a controlling 60% equity interest in Atome Financial for USD1.49 billion in cash. The proposed transaction is expected to complete by Q3 2027, subject to regulatory approvals and other customary conditions.

The deal involved addressing a highly complex, multi-jurisdictional regulatory landscape spanning Singapore, Malaysia, the Philippines, Indonesia, and Thailand, as well as structuring a two-tranche acquisition framework that includes performance-based valuation mechanics for the remaining equity interest. This required seamless coordination across multiple practice areas and jurisdictions to meet diverse regulatory requirements and closing conditions.

“This transaction reflects the growth of Southeast Asia's digital financial services market”

“Advising on a deal of this complexity, spanning five regulatory regimes across ASEAN and involving a two-tranche structure with performance-based mechanics, required close coordination across our M&A, financial regulatory and technology teams. We are proud to have supported AIGL and Atome Financial in achieving this outcome.”

The A&O Shearman team was led by partner Tom Jokelson, with support from Shuhui Kwok, Singapore managing partner, on financial regulatory matters, alongside lawyers from the firm’s M&A, technology, and regulatory practices across the region.

A&O Shearman advises on market-defining transactions in the financial services and technology sectors, reflecting the firm’s experience in complex cross-border deals and its commitment to supporting clients in high-growth markets. Recent highlights include advising on Allianz’s SGD2.7bn acquisition of HSBC Life Singapore, Telenor’s USD3.21bn exit from Thailand through the sale of its stake in True Corporation, and Coda’s acquisition of Recharge in the digital payments sector.

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