Sunday , August 14 2022

Ride Uber service with the purchase of billionaire in the Middle East before IPO


San Francisco (APA / Reuters) – Uber Uber Uber service is expanding before its expected IPO tenure in the Middle East with a billion-dollar purchase. For $ 3.1 billion (2.7 billion euros) is taken over the competitor Careem, the US company said Tuesday after long negotiations. It would pay $ 1.4 billion in cash and $ 1.7 billion in convertible bonds.

After a series of overseas sales, Uber is strengthening its position in the highly competitive region. The Careem brand should be retained. Among the investors who are worth around $ 2 billion and are active in 98 cities, there is a trip next to Chinese competitor Didi Chuxing and a Saudi Kingdom Holding investor Daimler.

Uber is expected to launch its IPO in April with a road show. On Wall Street is expected with a bang: The market valuation should be at least $ 100 billion.

~ WEB ~ APA063 2019-03-26 / 08: 49

Source link