09:04 AM EDT, 07/31/2026 (MT Newswires) -- Uber Technologies ( UBER ) completed the acquisition of a 12.5% stake in Careem Technologies from Emirates Telecommunications Group (e&) for $100 million in cash, e& said Friday.

The transaction is expected to help Careem leverage Uber's ( UBER ) global technology and platform capabilities for its next phase of growth, it said.

The deal also includes reciprocal put and call options over e&'s remaining stake, exercisable between Dec. 1, 2031, and Jan. 31, 2032, it added.

Following the sale, e& will account for its remaining investment in Careem using the equity method under IAS 28.