Uber May Announce $3 Billion Deal With Careem This Week: Report

Uber’s provide could be discharged during the early part of the week, a third source added.

Uber will pay $1.4 billion in cash and $1.7 billion in convertible notes, which will be convertible into Uber stocks at a cost equal to $55 per share, Bloomberg had previously reported, citing a term-sheet.

Careem declined comment while Uber did not immediately respond to a request from Reuters to remark.

Uber has been preparing for an initial public offering, and its bankers have suggested that it could be valued at up to $120 billion.

The US-based international logistics and transportation company has been searching for new avenues of growth even as it faces intense competition in its core business of ride-hailing from rivals such as Lyft.

The IPOs of Lyft and Uber represent a watershed for Silicon Valley’s tech unicorns, which for years have snubbed the stock market in favor of increasing capital independently, with investors happy to back their valuations.


Please enter your comment!
Please enter your name here