Assalam Alaykum,
Anybody know if UBER is shariah compliant still after they bought the alcohol delivery service Drizly few months ago. As it takes time for acquisition and mergers so was wondering, what will be a good cut off date to stop investing in the stock?
It’s hard to say until they start reporting specific numbers. If you feel uncomfortable about the news, it’s probably better to just avoid the stock.
Here’s the statement they included in their latest annual report:
Pending Acquisition of Drizly
On February 2, 2021, we entered into a definitive agreement to acquire 100% ownership interest in The Drizly Group, Inc. (“Drizly”), which operates an on-demand alcohol marketplace in North America. The aggregate consideration to be paid by us is estimated to be approximately $1.1 billion, subject to certain adjustments set forth in the definitive agreement payable in a combination of cash and shares of our stock based on a fixed price of approximately $53.16 per share. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to close in the first half of 2021.
Jazak’Allah Khair Br. Saad for your prompt response.
Good news!