A Good Day for Uber Lawyers: $3B Acquisition Closes and DOJ Drops FCPA Probe
The announcement of the Foreign Corrupt Practices Act investigation was included in the ride-hailing platform's 8-K filing with the U.S. Securities and Exchange Commission.
January 06, 2020 at 04:22 PM
3 minute read
The original version of this story was published on Corporate Counsel
Uber Technologies Inc. and its general counsel celebrated a double portion of good news Monday, starting with federal prosecutors dropping their investigation into possible violations of the Foreign Corrupt Practices Act.
The announcement was included in the ride-hailing platform's 8-K filing with the U.S. Securities and Exchange Commission.
The filing, signed by CEO Dara Khosrowshahi, also announced the other good news: that Uber has completed its $3.1 billion acquisition of Careem, a similar ride-hailing company in the Middle East. In a statement, Khosrowshahi said, "Working in parallel, our two platforms will be able to build upon the unique strengths of each, to the benefit of drivers, riders, and the cities we serve across the greater Middle East."
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