Uber acquired Dubai-based Careem for $3.1 billion
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| UAE-CONNECTS.COM |
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| UAE-CONNECTS.COM |
Uber in addition to Careem bring reached an understanding for Uber to commence Careem for $3.1 billion, consisting of $1.7 billion inwards convertible notes in addition to $1.4 billion inwards cash.
- Opportunity for both companies to quickly expand in addition to capitalise on the region’s underpenetrated mobility chance in addition to growing digital economy
- Transaction would last largest-ever technology manufacture transaction inwards the greater Middle East region
UAE--- Uber in addition to Careem bring reached an understanding for Uber to commence Careem for $3.1 billion, consisting of $1.7 billion inwards convertible notes in addition to $1.4 billion inwards cash. The acquisition of Careem is bailiwick to applicable regulatory approvals. The transaction is expected to unopen inwards Q1 2020.
Uber volition commence all of Careem’s mobility, delivery, in addition to payments businesses across the greater Middle East region, ranging from Kingdom of Morocco to Pakistan, alongside major markets including Egypt, Jordan, Pakistan, Saudi Arabia, in addition to the United Arab Emirates.
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Source in addition to courtesy :KT