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KHC Attains Stake in Careem KHC Attains Stake in Careem

KHC Attains Stake in Careem

Kingdom Holding Company (KHC) has acquired a seven percent stake in Careem through a secondary share purchase as well as participating in the latest Primary Round E-1 Capital Raise, amounting to a transaction value of USD62 million.

As one of the largest holders of preferred shares, KHC will also have a seat on Careem’s board of directors.

Noting that this is a continuation of the group’s strategy of investing in new technologies, Talal Ibrahim Al Maiman, CEO, KHC, commented, “As the leading ride hailing company in the region, and positioned with excellent growth prospects, Careem sets an example for regional businesses by providing employment opportunities to locals and developing talent.”

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