Uber Sells 50% Stake in Careem’s Super App to e&
San Francisco – April 14, 2023 – Cooley advised Uber, a tech company providing mobility as a service, on its agreement to sell a 50.03% stake in a newly created super app business unit of its Middle East subsidiary Careem to e& (formerly known as Emirates Telecommunications Group Company) for $400 million. Lawyers Ben Beerle, Ben Shribman, Carlos Ramirez, David Peinsipp, Caitlin Cunningham, Joe Claffey and Arielle H. Friehling led the Cooley team.
Uber’s existing Careem business will be separated into a ride-hailing side and a super app side. The super app business will take over Careem’s existing food and grocery delivery and fintech services, while Uber will retain full ownership of Careem’s ride-hailing business.
Uber Technologies, Inc. is a technology company that engages in the development and operation of applications, networks and products to power movement from point A to point B. Uber offers ride-hailing and food delivery services, along with other delivery services.
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