[ad_1]
Source image
PA
A car marked Uber
Ober, the taxi services giant, bought $ 3.1 billion from Karim, its main competitor in the Middle East, in the world's largest technology company, the two companies announced.
The deal gives Oper a boost for the world in anticipation of its IPO.
In a joint statement, the two companies said: "We have reached an agreement in which Ober gets Karim for $ 3.1 billion".
Under this agreement, Karim will become a wholly owned subsidiary of Ober, but the two companies, which use an electronic application for taxis and delivery services, will operate independently from one of the companies. other.
Karim said he would retain his own brand, services and applications in the Middle East.
Karim said he would expand his services to include bus services and parcel delivery.
Ober will pay Karim $ 1.4 billion in cash, the rest being in the form of bonds.
"Ober will purchase all of Karim's transportation, delivery and payment services in the Greater Middle East, from Morocco to Pakistan, via major markets, including Egypt, Jordan, Pakistan, the Middle East and the Middle East. 39, Saudi Arabia and the United Arab Emirates, "the statement said.
Karim's purchase comes as Opere is about to float on the stock market next month, which, by some estimates, could result in a $ 100-billion capital increase.
Karim, based in Dubai, was founded in 2012 and employs over a million drivers. It employs approximately 30 million people in 120 cities in the Middle East and North Africa.
Founded in 2010, Ober entered the Middle East market after the founding of Karim two years ago, and the two companies remained competitive in this fast-growing market.
"This is an important moment for Uber, as we continue to expand our global workforce and are confident that our close cooperation with the founders of Karim Simkna will provide excellent service to passengers, drivers and cities of this city. changing world, "said Dara Khosrushahi, CEO of Uber.
"By joining forces with Ober, we will be able to accelerate the achievement of our noble goal of facilitating and improving people's lives and building a great inspiring institution," said Madthar Sheikha, Executive Director of Karim.
Source link
