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Dubai – Mubasher: After Ober's acquisition of Karim, Fadi Ghandour, president of Wamda Capital, is expected to have a significant positive impact on the birth of new wealth holders in the Middle East.
According to Arabian Business, Ghandour confirmed that the wealth resulting from the deal would be passed on to the region, pointing out that a large number of people would receive generous returns through stock options. , ie they received actions through Karim's work.
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Millionaires in the area soon
Fadi Ghandour said that about 300 employees would receive about 1 million AED, while each of the 75 employees would receive a million dollars.
In addition, according to the national report, the number of employees will reach about 4,000, many of whom received shares of Karim upon their hiring.
"These gains will encourage them to take initiatives to start their own businesses because of their vast experience, which will have a significant impact on the generation of new entrepreneurs.I will call them Karim graduates," said Ghandour.
Ober acquired Karim for $ 3.1 billion, acquisition value of $ 1.7 billion in convertible bonds and $ 1.4 billion in cash.
The phenomenon of "Paypal"
The deal will spawn the so-called PayPal phenomenon in the Middle East, where the sale of the American digital PayPal sales platform has led its employees to start their own business after the gains they have made.
At the time, they founded a large group of successful technology companies, such as Tesla, founded by Elon Mask, a PayPal graduate, Reed Hoffman, founder of LinkedIn, and YouTube founders, Steve Chen, Jade. Karim and Chad Hurley.
The acquisition is the result of regulatory approvals, the transaction being finalized in the first quarter of 2020.
Ober said the deal was an opportunity for both companies to grow rapidly and support the development of mobility service opportunities in the region and the rapidly growing digital economy.
Mr. Ghandour confirmed that the last of the largest transactions in the Middle East proves the feasibility of investments in the region and should generate investment opportunities for new entrepreneurs.
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