{"id":10537,"date":"2023-12-09T18:11:47","date_gmt":"2023-12-09T15:11:47","guid":{"rendered":"https:\/\/entarabi.com\/?p=10537"},"modified":"2023-12-09T18:11:47","modified_gmt":"2023-12-09T15:11:47","slug":"uaes-e-acquires-majority-stake-in-careem-technologies-for-400-million","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2023\/12\/uaes-e-acquires-majority-stake-in-careem-technologies-for-400-million\/","title":{"rendered":"UAE&#8217;s e&amp; Acquires Majority Stake in Careem Technologies for $400 Million"},"content":{"rendered":"<p>UAE telecommunications company e&amp; has completed the purchase of a 50.03% share in Careem Technologies, commonly referred to as the Careem Everything App, for a total of $400 million.<\/p>\n<p>This investment aligns with e&amp;&#8217;s strategic goals to expand its consumer digital services and to advance its evolution into a worldwide technology conglomerate, as announced in a statement to the Abu Dhabi Securities Exchange (ADX) on Friday.<\/p>\n<p>The company financed the acquisition using debt and confirmed that the transaction does not involve any related parties.<\/p>\n<p>Careem Technologies, the newly formed subsidiary, is designed to separate non-ride-sharing operations from Careem. This includes services like food and grocery delivery, financial technology solutions via Careem Pay, micro-mobility with Careem Bike, and other third-party offerings.<\/p>\n<p>Careem Technologies will function alongside Careem&#8217;s ride-sharing division, which is still wholly owned by Uber, according to the announcement.<\/p>\n<p>Previously, in April, e&amp; entered into a definitive agreement with Uber Technologies and its affiliate Careem to acquire a controlling interest in Careem Technologies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UAE telecommunications company e&amp; has completed the purchase of a 50.03% share in Careem Technologies, commonly referred to as the Careem Everything App, for a total of $400 million. This investment aligns with e&amp;&#8217;s strategic goals to expand its consumer digital services and to advance its evolution into a worldwide technology conglomerate, as announced in [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":10538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[],"class_list":["post-10537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/10537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=10537"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/10537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/10538"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=10537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=10537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=10537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}