Subsidiary of Uber plans to attract investments of Saudi funds for $500 million
Uber UBER $32.4 +1,73% Buy Bank of America BAC$40.95 -3,94% Buy General Motors GM$42.52 -5,41% Buy
Uber's subsidiary Careem, a car rental company, plans to raise up to $500 million from investors. it is reported by BLOOMBERG.
The Dubai-based company has already held talks with the Saudi Arabian Sovereign Investment Fund and oil company ADQ to raise funds, officials said. Bank of America is acting as an advisor on the deal, they said.
Negotiations are at an early stage, so the final investment amount may change. Uber acquired Careem for $3.1 billion in 2019.
Follow the news of the companies in the TELEGRAM channel "Catalog of RBC Investments"