ALBAWABA - The United Arab Emirates's Emaar Group announced that it has acquired a 50.03 percent stake in the Careem Super App through a binding agreement with Uber.
The deal is worth $400 million, the firm said in a statement.
Under the agreement, Careem's ride-hailing business, which is fully owned by Uber, will be separated from the Careem Super App.
However, Uber will still have a stake in the app.
Customers will continue to use ride-sharing and all other services the app provides through a single platform, which is the Careem Super App.
