Uber Raises Careem Stake to Control as e& Sells 12.5% for $100m
e& sold a 12.5% stake in Careem Technologies to Uber for $100m, cutting its holding to about 37.5% and handing Uber a controlling position in the Dubai-based super-app.
thenationalnews.comsecondary
Aggregated
UAE telecoms group e& said it had sold 12.5% of Careem Technologies to Uber for $100m, reducing its stake to about 37.5% from just over 50%. The move gives Uber a controlling position in the Dubai-based super-app, which spans ride-hailing, delivery and payments.
Uber previously acquired Careem's ride-hailing business in 2020, while e& had held a majority of the remaining super-app entity. The transaction reflects e&'s continued focus on its core telecoms and digital operations.