AIRLINK 69.92 Increased By ▲ 4.72 (7.24%)
BOP 5.46 Decreased By ▼ -0.11 (-1.97%)
CNERGY 4.50 Decreased By ▼ -0.06 (-1.32%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 69.85 Decreased By ▼ -0.11 (-0.16%)
FCCL 20.02 Decreased By ▼ -0.28 (-1.38%)
FFBL 30.69 Increased By ▲ 1.58 (5.43%)
FFL 9.75 Decreased By ▼ -0.08 (-0.81%)
GGL 10.12 Increased By ▲ 0.11 (1.1%)
HBL 114.90 Increased By ▲ 0.65 (0.57%)
HUBC 132.10 Increased By ▲ 3.00 (2.32%)
HUMNL 6.73 Increased By ▲ 0.02 (0.3%)
KEL 4.44 No Change ▼ 0.00 (0%)
KOSM 4.93 Increased By ▲ 0.04 (0.82%)
MLCF 36.45 Decreased By ▼ -0.55 (-1.49%)
OGDC 133.90 Increased By ▲ 1.60 (1.21%)
PAEL 22.50 Decreased By ▼ -0.04 (-0.18%)
PIAA 25.39 Decreased By ▼ -0.50 (-1.93%)
PIBTL 6.61 Increased By ▲ 0.01 (0.15%)
PPL 113.20 Increased By ▲ 0.35 (0.31%)
PRL 30.12 Increased By ▲ 0.71 (2.41%)
PTC 14.70 Decreased By ▼ -0.54 (-3.54%)
SEARL 57.55 Increased By ▲ 0.52 (0.91%)
SNGP 66.60 Increased By ▲ 0.15 (0.23%)
SSGC 10.99 Increased By ▲ 0.01 (0.09%)
TELE 8.77 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.51 Decreased By ▼ -0.19 (-1.62%)
TRG 68.61 Decreased By ▼ -0.01 (-0.01%)
UNITY 23.47 Increased By ▲ 0.07 (0.3%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,399 Increased By 104.2 (1.43%)
BR30 24,136 Increased By 282 (1.18%)
KSE100 70,910 Increased By 619.8 (0.88%)
KSE30 23,377 Increased By 205.6 (0.89%)
Business & Finance

Careem ends Sudan operations as part of Uber takeover deal

DUBAI: Careem has ended operations in Sudan as part of its planned takeover by Uber, a spokeswoman said on Monday, l
Published July 1, 2019

DUBAI: Careem has ended operations in Sudan as part of its planned takeover by Uber, a spokeswoman said on Monday, less than a year after the Middle Eastern ride-hailing firm launched in the country.

Careem began operations in Sudan in September 2018 after the United States lifted economic sanctions in 2017.

Uber said in an SEC filing it expected Careem to divest its operations in Sudan before its $3.1 billion takeover of the Dubai-headquartered company closes. The deal, announced in March, is expected to close early next year.

Careem shut its Sudan business on June 30, a spokeswoman said in a statement.

"There are no plans to close any other markets and ceasing Sudan operations will not have any effect on Careem's other markets," she said.

Few international firms entered Sudan after the lifting of US economic sanctions. The country remains on the US list of state sponsors of terrorism.

Sudan has faced instability since protests broke out in December, resulting in the ouster of long-time President Omar al-Bashir by the military in April.

Last week, a top US State Department official said Washington was considering all options, including possible sanctions, if there was more violence after a deadly assault on protesters in Khartoum on June 3.

Other local ride-hailing apps such as Tirhal operate in Sudan.

Copyright Reuters, 2019

Comments

Comments are closed.