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Acquisition of $ 3.1 billion from the Greater Middle East of Morocco to Pakistan
The company announced today that Karim, in which it directly holds 8.8% of the capital, has signed an agreement with Ober. On March 26, 2019, Ober acquired Karim for approximately $ 3.1 billion.
The agreement provides for the payment of $ 1.4 billion in cash and $ 1.7 billion to be repaid with Uber convertible bonds, the company said in a statement released on Monday. Tadawul. Adjustable
The share of the acquisition will be approximately $ 274 million (R $ 1.03 billion), a cash portion and a portion of Uber's convertible bonds, the final settlement of the amount at the end of the year. transaction.
Saudi Telecom has indicated that the transaction will take place as soon as the transaction is finalized and the final approvals are obtained, which will determine the period in which the transaction will have a positive financial impact on its direct and indirect investments in Karim.
STC invested $ 100 million in Karim in January 2017. In addition to direct investments, STC invested in Karim through its investment funds, as follows:
– STC Ventures, which holds 6.4% of the capital.
– Saudi Technology Ventures, which holds 2.9% of the capital.
In a similar context, the Saudi Stock Exchange (Tadawul) announced the suspension of the suspension of Al Tayyar Travel Group shares in the market as of today, Tuesday, March 26, 2019.
Tadawul said in a statement: "This comes after the company announced the event." Tadiran's shares had been suspended yesterday at the company's request to announce an event.
The Al Tayyar group announced today that Karim, a wholly-owned subsidiary, has entered into an agreement with Ober Technologies to acquire Karim's assets for $ 3.1 billion, split into two parts; In the form of bonds convertible into shares of the company "Ober" during certain periods, having complied with certain terms and conditions stipulated in the contract of acquisition concluded between the two companies.
The company said in a statement on "Tadwal": A portion of this consideration may be used to make payments for unexpected obligations, guarantees, covenants and offsets necessary to complete the transaction.
The acquisition of Karim's business is subject to the approval of the supervisory authorities in each of the countries in which the company operates. The transaction is expected to close in the first quarter of 2020.
As a result of this transaction, the Al Tayyar Travel Group is expected to make a total profit of RL 1.78 billion.
According to the terms of the agreement, the group will record at least 1.34 billion yen in 2019 of the total expected earnings, the rest adding once all the terms of the agreement will have been completed, the cash portion of which will subsequently be converted into convertible bonds of the group. .
Ober Transport announced that it would buy all Karim's activities in the areas of passenger transport, delivery and payment in the Greater Middle East, from Morocco to Pakistan.
According to a statement from Reuters, the company will spend to buy its rival in the Middle East. "Karim", under a $ 3.1 billion contract, is expected to culminate in the conclusion of the "Karim" agreement in the first quarter of 2020.
Karim added that Karim would become a wholly owned subsidiary of Ober, operating as an independent company under the Karim brand, led by the founders.
Saudi partners of the agreement "Ober and Karim" .. "Communications" and "pilot": these are our earnings
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2019-03-26
The company announced today that Karim, in which it directly holds 8.8% of the capital, has signed an agreement with Ober. On March 26, 2019, Ober acquired Karim for approximately $ 3.1 billion.
The agreement provides for the payment of $ 1.4 billion in cash and $ 1.7 billion to be repaid with Uber convertible bonds, the company said in a statement released on Monday. Tadawul. Adjustable
The share of the acquisition will be approximately $ 274 million (R $ 1.03 billion), a cash portion and a portion of Uber's convertible bonds, the final settlement of the amount at the end of the year. transaction.
Saudi Telecom has indicated that the transaction will take place as soon as the transaction is finalized and the final approvals are obtained, which will determine the period in which the transaction will have a positive financial impact on its direct and indirect investments in Karim.
STC invested $ 100 million in Karim in January 2017. In addition to direct investments, STC invested in Karim through its investment funds, as follows:
– STC Ventures, which holds 6.4% of the capital.
– Saudi Technology Ventures, which holds 2.9% of the capital.
In a similar context, the Saudi Stock Exchange (Tadawul) announced the suspension of the suspension of Al Tayyar Travel Group shares in the market as of today, Tuesday, March 26, 2019.
Tadawul said in a statement: "This comes after the company announced the event." Tadiran's shares had been suspended yesterday at the company's request to announce an event.
The Al Tayyar group announced today that Karim, a wholly-owned subsidiary, has entered into an agreement with Ober Technologies to acquire Karim's assets for $ 3.1 billion, split into two parts; In the form of bonds convertible into shares of the company "Ober" during certain periods, having complied with certain terms and conditions stipulated in the contract of acquisition concluded between the two companies.
The company said in a statement on "Tadwal": A portion of this consideration may be used to make payments for unexpected obligations, guarantees, covenants and offsets necessary to complete the transaction.
The acquisition of Karim's business is subject to the approval of the supervisory authorities in each of the countries in which the company operates. The transaction is expected to close in the first quarter of 2020.
As a result of this transaction, the Al Tayyar Travel Group is expected to make a total profit of RL 1.78 billion.
According to the terms of the agreement, the group will record at least 1.34 billion yen in 2019 of the total expected earnings, the rest adding once all the terms of the agreement will have been completed, the cash portion of which will subsequently be converted into convertible bonds of the group. .
Ober Transport announced that it would buy all Karim's activities in the areas of passenger transport, delivery and payment in the Greater Middle East, from Morocco to Pakistan.
According to a statement from Reuters, the company will spend to buy its rival in the Middle East. "Karim", under a $ 3.1 billion contract, is expected to culminate in the conclusion of the "Karim" agreement in the first quarter of 2020.
Karim added that Karim would become a wholly owned subsidiary of Ober, operating as an independent company under the Karim brand, led by the founders.
March 26, 2019 – 19 Rajab 1440
The time now is 10:42 AM
Acquisition of $ 3.1 billion from the Greater Middle East of Morocco to Pakistan
The company announced today that Karim, in which it directly holds 8.8% of the capital, has signed an agreement with Ober. On March 26, 2019, Ober acquired Karim for approximately $ 3.1 billion.
The agreement provides for the payment of $ 1.4 billion in cash and $ 1.7 billion to be repaid with Uber convertible bonds, the company said in a statement released on Monday. Tadawul. Adjustable
The share of the acquisition will be approximately $ 274 million (R $ 1.03 billion), a cash portion and a portion of Uber's convertible bonds, the final settlement of the amount at the end of the year. transaction.
Saudi Telecom has indicated that the transaction will take place as soon as the transaction is finalized and the final approvals are obtained, which will determine the period in which the transaction will have a positive financial impact on its direct and indirect investments in Karim.
STC invested $ 100 million in Karim in January 2017. In addition to direct investments, STC invested in Karim through its investment funds, as follows:
– STC Ventures, which holds 6.4% of the capital.
– Saudi Technology Ventures, which holds 2.9% of the capital.
In a similar context, the Saudi Stock Exchange (Tadawul) announced the suspension of the suspension of Al Tayyar Travel Group shares in the market as of today, Tuesday, March 26, 2019.
Tadawul said in a statement: "This comes after the company announced the event." Tadiran's shares had been suspended yesterday at the company's request to announce an event.
The Al Tayyar group announced today that Karim, a wholly-owned subsidiary, has entered into an agreement with Ober Technologies to acquire Karim's assets for $ 3.1 billion, split into two parts; In the form of bonds convertible into shares of the company "Ober" during certain periods, having complied with some of the general conditions stipulated in the contract of acquisition concluded between the two companies.
The company said in a statement on "Tadwal": A portion of this consideration may be used to make payments for unexpected obligations, guarantees, covenants and offsets necessary to complete the transaction.
The acquisition of Karim's business is subject to the approval of the supervisory authorities in each of the countries in which the company operates. The transaction is expected to close in the first quarter of 2020.
As a result of this transaction, the Al Tayyar Travel Group is expected to make a total profit of RL 1.78 billion.
According to the terms of the agreement, the group will record at least 1.34 billion yen in 2019 of the total expected earnings, the rest adding once all the terms of the agreement will have been completed, the cash portion of which will subsequently be converted into convertible bonds of the group. .
Ober Transport announced that it would buy all Karim's activities in the areas of passenger transport, delivery and payment in the Greater Middle East, from Morocco to Pakistan.
According to a statement from Reuters, the company will spend to buy its rival in the Middle East. "Karim", under a $ 3.1 billion contract, is expected to culminate in the conclusion of the "Karim" agreement in the first quarter of 2020.
Karim added that Karim would become a wholly owned subsidiary of Ober, operating as an independent company under the Karim brand, led by the founders.
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