Maples Group Advises On Largest Tech Acquisition Deal in UAE
The Maples Group is advising Careem Inc. (“Careem”) on the sale of substantially all of its business to a subsidiary of Uber Technologies, Inc. (“Uber”) for consideration totalling approximately US$ 3.1 billion comprising a mixture of cash and notes convertible into shares of Uber.
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The transaction is the largest ever acquisition of a technology business in the United Arab Emirates and the wider region. Incorporated in the British Virgin Islands (“BVI”) and globally headquartered in Dubai, Careem, via its subsidiaries, operates ride hailing, food delivery and related services across various jurisdictions in the Middle East, North Africa, Turkey and Pakistan. The Maples Group has acted as BVI counsel to Careem, working alongside Wilson, Sonsini, Goodrich & Rosati, which is acting as US counsel to Careem.