e& sells Careem 12.5% stake to Uber
- Source
- Argaam - Company Disclosures
- Source link
- https://www.argaam.com/en/article/articledetail/id/1925107
- Published
- 2026-08-02 12:47:00
- Discovered by ProcIntel
- 2026-08-02 14:26:40
- Category
- Supplier Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
<p ><span ><span ><img src="https://argaamplus.s3.amazonaws.com/e56610dd-08b2-41d7-a5eb-f826d2ec677f.png" ></span></span><span class="ckeCaption" >e has also a put option that gives it the</span><span >right to require Uber to purchase e’s remaining shares of the company</span></p> <hr> <p >Emirates Telecommunications Group(e) said it completed the sale of 12.50% of its<br> 50.03% stake in Careem Technologies Holding Ltd to Uber Technologies Incfor a total cash consideration of $100 million.</p> <p ><br> This will enable the company to benefit from Uber’s global technology experience and<br> platform synergies to position itself for the next phase of growth while it reflects at the same<br> time the strategic focus for e on its core businesses and disciplined capital allocation<br> priorities.</p> <p ><br> In addition to the $100 million received in cash, e has also a put option that gives it the<br> right to require Uber to purchase e’s remaining shares of the company, while Uber holds a<br> reciprocal call option that gives it the right to require e to sell those shares.</p> <p ></p> <p >These optionsare exercisable between 1 December 2031 to 31 January 2032.</p> <p ><br> The financial results of the company for the period ended 30 June 2026 will be presented<br> separately after profit from continuing operations in e’s consolidated statement of<br> comprehensive income for the period ended 30 June 2026 (and accordingly the company’s<br> revenue and EBITDA will not be consolidated for the 6 months period.</p> <p ><br> Starting from 31 July 2026, the accounting treatment of the company will be changed to the<br> equity method under IAS 28.</p>
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "2 linked geographies"
Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.