Uber is giving up on Southeast Asia.
The US ride hailing company is selling its business in the region to local rival Grab, the companies said in a statement Monday.
They didn’t disclose the deal’s price tag but said Uber will end up with a 27.5% stake in Grab under the agreement.
This is just the latest international retreat for the US company.
In 2016, Uber sold its China operations to rival Didi Chuxing in a landmark deal that ended its quest to be a major player in one of the world’s largest markets.
Last year, Uber also threw in the towel in Russia, ceding its operations to rival Yandex in exchange for a 37% stake in the combined company.
