Uber Adds Saudi Investors as Pharo, Branson Shun Kingdom's Cash - Bloomberg:
As global investors reevaluate their relationships with Saudi Arabia after the killing of columnist Jamal Khashoggi, Uber Technologies Inc. just ended up with more shareholders from the kingdom.
The U.S. ride-hailing company will add Prince Alwaleed bin Talal Al Saud’s Kingdom Holding Co., Al Tayyar Travel Group Holding Co. and Saudi Telecom Co. to its shareholder base once it completes the acquisition of Dubai-based rival Careem Networks FZ.
As part of the $3.1 billion deal, existing Careem shareholders will receive notes that can be converted into Uber stock once the company completes its initial public offering expected in April. Saudi Arabia’s Public Investment Fund is already one of Uber’s biggest backers after pumping in $3.5 billion in 2016.
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