Uber, Careem merger said to be completed in 8 months

03/04/2019 Argaam

 

Uber Inc.’s acquisition of Dubai-based ride hailing app Careem is expected to be completed within seven or eight months, UAE state news agency WAM reported, citing CEOs of the two companies.

 

The $3.1 billion merger completion timeline was discussed during a meeting between Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Dara Khosrowshahi, CEO of Uber, and Mudassir Sheikha, CEO of Careem.

 

Read: It's official: Uber buys ride-hailing app Careem for $3.1 bln

 

Khosrowshahi and Sheikha explained how the merger would affect their employees, offices and 17,000 limousines in the UAE and the region, WAM reported.

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