Uber completes $3.1bn acquisition of Careem
On January 3 2020, Uber completed the $3.1bn acquisition of Careem. Uber and Careem overlapped in the supply of ride-sharing services in Egypt, Saudi-Arabia, UAE, Pakistan, Jordan and Qatar where the parties were the two largest providers of ride-sharing services. The transaction was also investigated in Morocco. The transaction was cleared unconditionally in UAE and Jordan, and with commitments in Egypt, Saudi Arabia and Pakistan.
A CRA team consisting of Cristina Caffarra, Oliver Latham, Sam Marden and Muath Masri, provided economic advice and support to Uber. CRA’s analysis centred on assessing the scope for entry and expansion and designing appropriate remedies to ensure the market remained contestable while also analysing competition from other transportation modes, the strength of network effects, and the impact of local regulation.