Uber to sign $3.1bn deal for Careem as early as Monday | Financial Times

Uber to sign $3.1bn deal for Careem as early as Monday | Financial Times:

Uber’s long-running talks to acquire Dubai-based rival Careem are nearing completion, with final agreement expected to be signed as early as Monday or Tuesday.

Two people familiar with the transaction said the US ride-hailing company would acquire Careem for about $3.1bn, via a mixture of cash and convertible notes.

Careem, founded in 2012 by two former McKinsey consultants, was valued at around $2bn during a fundraising round last year.