Reasons behind E&'s stake shift in Careem

Careem's platform has experienced changes in its ownership structure after E& Group Emirates reduced its controlling stake in favor of Uber, which acquired a 12.5% share in Careem for $100 million. This resulted in E& Emirates' ownership decreasing from 50.03% to 37.53%. This move is part of a strategic repositioning aimed at improving efficiency and reducing risks, rather than a complete divestment, with the goal of enhancing integration with Uber and expanding service reach in the region. Analysts see this deal as reflecting a shift from direct control towards a focus on financial returns and strategic partnership.

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