UAE telecom giant retains 37.53% ownership as Careem prepares for its next growth phase.

e& is cashing in on part of its investment in Careem while keeping a sizeable stake in the company’s future.

The Abu Dhabi-based technology and telecom group signed a binding agreement with Uber Technologies to sell 12.5% of its stake in Careem Technologies for USD 100 million. Once the transaction closes, e& will continue to hold a 37.53% ownership stake in the company.

Why You Should Care

The deal offers a glimpse into how large regional technology investors are balancing portfolio returns with long-term growth opportunities. While e& is reducing its exposure to Careem, it is not exiting. Instead, the company is unlocking capital while maintaining a significant position in one of the region’s largest consumer technology platforms.

For Uber, the transaction increases its ownership in a business that has expanded well beyond ride-hailing into food delivery, digital payments, quick commerce, and subscription services.

The transaction values the stake being sold at USD 100 million and remains subject to regulatory approvals and customary closing conditions.

According to e&, Careem has recorded strong growth over the past two years, particularly in the UAE. Gross transaction value across its core services increased nearly fivefold, supported by momentum across several business lines including Food, Quik, Plus, and Pay.

The company said Uber’s increased involvement could help Careem benefit from additional technology capabilities and platform integration opportunities as it enters its next stage of growth.

As part of the agreement, both companies have also established future exit mechanisms. e& will have the right to require Uber to purchase its remaining shares in Careem Technologies, while Uber will hold a corresponding right to acquire those shares. These options can be exercised between December 2031 and January 2032.

Following completion of the transaction, e& said it will change the accounting treatment of its investment in Careem Technologies to the equity method.

The Ripple

The transaction highlights the continued evolution of Careem from a ride-hailing company into a broader lifestyle and digital services platform. It also reflects a wider trend across the region, where large corporate investors are becoming more selective about capital allocation while maintaining exposure to high-growth technology assets.

For the UAE technology ecosystem, the deal reinforces the strategic importance of homegrown platforms that continue attracting investment from global technology players.

What to Watch

The next milestone will be regulatory approval and the closing of the transaction. Beyond that, attention will shift to how deeper collaboration between Uber and Careem influences product development, platform integration, and expansion across Careem’s growing portfolio of digital services.

With e& remaining a major shareholder and Uber increasing its ownership, Careem enters its next chapter backed by two of the region’s most influential technology investors.