Uber increases Careem ownership after $100 million stake purchase from e&

UAE-based super app Careem is set to return to closer control under Uber after Uber agreed to acquire a 12.5% stake from e& for $100 million.

The transaction will reduce e&’s ownership in Careem Technologies to 37.53% from 50.03%, while strengthening Uber’s position in the company.

e& originally acquired a majority stake in Careem’s super app business for $400 million in 2023 as part of its strategy to expand digital consumer services.

Careem’s ride-hailing business remains fully owned by Uber, while the super app business includes services such as food delivery, grocery delivery, payments, and other digital offerings.

The deal remains subject to regulatory approvals and customary closing conditions.