January 12, 2018 — Hughes Hubbard won a 2017 FinanceAsia Achievement Award for its role in Grab's $2.5 billion financing round.
The matter was chosen by the Hong Kong-based financial publication FinanceAsia as "Best Singapore Deal."
The awards, revealed on Dec. 18, highlight innovative transactions in the region and aim to recognize "excellence in bringing corporates and investors together and in developing Asia's capital markets."
Ken Lefkowitz, Spencer Harrison and Michael Traube represented Singapore-based Grab, Uber Technologies Inc.'s largest rival in Southeast Asia, in a record-breaking round of financing for a startup in the region. Grab raised up to $2 billion from Chinese peer Didi Chuxing and Japanese telecommunication giant SoftBank Group Corp., as well as an additional $500 million from existing and new investors. The total sum of $2.5 billion is the largest single financing in the history of Southeast Asia.