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Ober and Karim announced an agreement whereby Ober would buy Karim for $ 3.1 billion, including $ 1.7 billion in bonds and $ 1.4 billion in cash, the deal is expected to close in the first quarter 2007. 2020.
Under the terms of the agreement, Karim will continue to operate under its own brands as an Ober subsidiary and the applications of both companies will continue to operate under their distinct brands.
The group Al Tayyar, which holds a 14.7% stake in Karim, expects the profit from this transaction to be 1.78 billion rupees, which indicates that it will record 1, 34 billion rupees of the total expected profits this year. Meet all the conditions of the agreement.
Saudi Telecom, which has a direct holding of approximately 8.8%, has announced that its share in the acquisition would be SAR 1.03 billion, its cash and a portion of convertible convertible bonds, End of the Deal.
Kingdom Holding, which holds a 7% stake in Karim, has announced that it has finalized the sale of its shares in Karim to Ober for a transaction worth RS 1.25 billion under of the acquisition.
The terms of the transaction include RS 565 million in cash and the acquisition of convertible bonds at Ober Company in the amount of SAR 685 million, indicating that the carrying amount of the asset is SAR 765 million.
Founded in 2012, Karim, a specialist in passenger transportation through smart phone applications, is based in Dubai and has 30 million users in 90 cities in the Middle East, Africa and South Africa. North and Pakistan.
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