Saudi Arabia reaped many advantages from the Uber acquisition of Karim, which was considered the largest deal in the region, where 3 Saudi companies, Kingdom Holding and Saudi Telecom and Al Tayyar Holding Group for Travel, announced the sale of Its stake in Karim to Uber.

The total cash returns of the three companies amounted to about 4.06 billion riyals, including obtaining bonds convertible into shares in Uber.

Companies value Al-Tayyar Group, the largest investor in Karim, at about 1.78 billion riyals.

The Saudi Telecom Company has achieved a cash return of about 1.03 billion riyals from the sale of its 8.8% stake, to achieve gains of about 174% of its investments of $ 100 million in Karim on January 2017.

The Kingdom Holding Company will receive a return of about 1.25 billion riyals distributed on the amount of 565 million riyals in cash, as well as obtaining bonds convertible into shares in Uber with a value of 685 million riyals .

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Al Tayyar exits from Karim with 1.8 billion riyals

Kingdom Holding to sell its stake in Karim for $ 334 million

$ 274 million Saudi Telecom’s stake in Uber-Karim deal