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  • 25-03-19

    Dubai's Careem to be acquired by Uber soon

    (MENAFN) Dubai's Careem is expected to be purchased by Uber Technologies Inc in a USD3.1 billion agreement as early as this week.

    U.S-based Uber confirmed that it was announcing the news soon, with sources revealing the giant to have secured a deal for USD1.4 billion in cash and USD1.7 billion in convertible notes.

    These convertible notes were reported to be somewhat worth USD55 per share for the American ride hailing app.

    It comes while Uber was arranging for an initial public offering (IPO) with its bankers dropping hints that it was worth up to USD120 billion.

    MENAFN2503201900450000ID1098299212

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