Abraaj Group exits Careem

The Abraaj Group said June 15 that it has sold its stake in Careem to Kingdom Holding Co. Financial terms weren’t announced. Careem is a transportation and ride hailing businesses across the Middle East, North Africa, Turkey and Pakistan. Careem has also raised $150 million, part of a $500 million Series E announced in December, TechCrunch reported. The round values Careem at over $1 billion, the story said.

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