Uber completes $3.1bn deal for Dubai's Careem - Arabianbusiness:
Uber on Friday confirmed the official close of its acquisition of Dubai-based car hailing app Careem for $3.1 billion.
Careem Networks has now become a wholly-owned subsidiary of Uber, preserving its brand, a statement said, adding that Careem co-founder and CEO Mudassir Sheikha will continue to lead the Careem business.
Sheikha will report to a board made up of three representatives from Uber and two representatives from Careem, the statement said.
It added that Careem and Uber will operate their respective regional services and independent brands.
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