Uber to announce three billion USD deal with Careem early this week
Posted On March 25, 2019
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Uber Technologies is set to offer over three billion USD to buy Dubai-based rival Careem Networks FZ, two sources familiar with the deal told Reuters. Uber’s offer could be unveiled during the early part of this week, a third source added.
Uber will pay 1.4 billion USD in cash and 1.7 billion USD in convertible notes, which will be convertible into Uber shares at a price equal to 55 USD per share, Bloomberg had earlier reported, citing a term-sheet.
Uber has been preparing for an initial public offering, and its bankers have indicated that it could be valued at as much as 120 billion USD.
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