Abu Dhabi-based technology group e& has signed a binding agreement to sell part of its stake in Careem Technologies to Uber Technologies in a $100 million cash transaction. This move marks a significant development in the ongoing e& Careem stake sale.
The deal will see e& sell 12.5 percent of its 50.03 percent shareholding in Careem Technologies, the company behind Careem’s super-app business. The transaction marks another major development in the region’s fast-evolving digital economy, where technology, mobility, fintech, food delivery, and consumer services continue to attract strategic investment.
e& to Sell Part of Careem Technologies Stake
According to the announcement, e& will receive $100 million in cash from Uber for the partial stake sale. The agreement was signed on June 1, 2026, and reflects Uber’s continued interest in Careem’s regional digital ecosystem.
Careem Technologies operates the non-ride-hailing side of the Careem business, which includes super-app services such as food delivery, grocery delivery, digital payments, and other everyday consumer services.
The move comes after e& acquired a majority stake in Careem’s super-app business in a previous transaction, positioning the UAE telecom and technology group as a major player in the region’s consumer technology market.
What the Deal Means for Careem
Careem remains one of the most recognised technology brands in the Middle East. Originally known for ride-hailing, the Dubai-born company has expanded into a multi-service platform serving users across the region.
The latest stake sale does not represent a full exit by e& from Careem Technologies. Instead, it reduces part of e&’s holding while keeping the company invested in Careem’s future growth.
For Uber, the transaction strengthens its connection to Careem’s wider technology platform, beyond its historic role in the ride-hailing business. Uber acquired Careem in a landmark $3.1 billion deal in 2019, one of the largest technology acquisitions in the Middle East at the time.
UAE Digital Economy Continues to Attract Investment
The sale of the e& Careem stake highlights the increasing importance of digital platforms in the UAE and broader GCC region. Companies with a solid customer base, payment capabilities, logistics infrastructure and app-based services are becoming increasingly important to regional growth strategies.
The UAE is actively working to cement its position as a global technology and startup hub, supported by free zones, business-friendly regulations, digital transformation initiatives and growing investor interest in scalable technology companies.
The Careem deal is yet another indication that the UAE’s digital economy still has opportunities for entrepreneurs and investors based in UAE free zones in areas such as mobility, fintech, delivery, logistics and super-app services.
Strategic importance for e&
The deal gives e& a cash return while retaining exposure to Careem Technologies. The group has been moving beyond traditional telecoms into digital platforms, fintech, cloud, artificial intelligence, cybersecurity and consumer technology.
This broader strategy has been supported by its investment in Careem, giving e& access to a well-established regional consumer platform with strong brand recognition and a large user base.
The partial sale to Uber may also allow e& to rebalance its investment portfolio whilst being part of Careem’s future growth.
UAE Tech Investment Outlook
The deal is likely to catch the eye of investors, start-ups and free zone firms tuning into the UAE technology space. As more regional businesses scale through digital platforms, strategic partnerships and partial stake sales may become more common.
Careem’s journey from a Dubai startup to a leading regional tech platform continues to be a testament to the strength of UAE-based innovation. The recent Uber and e& deal highlights the importance of the Emirates as a launchpad for high-growth tech companies throughout the Middle East.
The sale of the e& Careem stake is more than a corporate deal for the UAE business community. It is a reminder that the country’s digital economy is still alive, competitive and attractive to global technology investors.
