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Gaurav

Careem shakes hand with UBER for $ 3.1 billion

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Now that's what sounds like a MEGA acquisition and real win-win game changer for both Careem and UBER in the Middle East market.

Uber agreed to acquire Careem for $ 3.1 billion, consisting of $ 1.7 billion in convertible notes and rest $ 1.4 billion in cash. This transaction is expected to close within a year's time.

Source: https://www.khaleejtimes.com/business/uber-acquires-dubai-based-careem-for-31-billion

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