Mon. Oct 21st, 2019

Uber pumps $ 3.1 billion in first acquisition of Dubai Rival Careem

1 min read

Uber Technologies Inc is set to announce a $ 3.1 billion cash and equity deal to acquire Dubai-based Careem Networks FZ earlier this week, The giant of the United States will pay $ 1.4 billion in cash and $ 1.7 billion in convertible notes for Careem, said people who have knowledge of the matter to Bloomberg. The notes will be convertible into Uber shares at a price equal to $ 55 per share, according to the terms sheet. Careem shareholders, whose sponsors include Saudi investment firm Prince Alwaleed bin Talal and Japanese e-commerce company Rakuten Inc, have been asked to accept the terms of the transaction before Monday night and that the agreement It could be announced on Tuesday. The acquisition of Careem by Uber is ahead of its initial public offering, which could be one of the largest quotes of the New York Stock Exchange.

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