Uber Eyes Getir Food Deal Amidst Mubadala's Turkey Exit

Uber Eats is in advanced discussions to acquire the Turkish food delivery business of Getir, which is controlled by Abu Dhabi's Mubadala sovereign wealth fund. This potential transaction marks a continued withdrawal of Mubadala from the Turkish market, as the fund previously sold Getir's car-rental arm, Getir Arac, to Tiktak just last month. The deal's finalization is contingent upon approval from Turkey's Competition Board.

While the proposed sale price remains undisclosed, sources indicate that Uber and Mubadala have submitted their proposal for final regulatory approval. Representatives from both Uber and Mubadala have declined to comment on the ongoing discussions. This development follows earlier reports from earlier this month about preliminary talks between the two entities, signaling a significant potential shift in Turkey's food delivery landscape.

Getir, once valued at $12 billion in 2022, experienced rapid growth during the pandemic but later restructured its international operations due to declining consumer demand. Mubadala took control of Getir assets earlier this year. Meanwhile, Uber has been actively expanding its presence in Turkey, having announced plans in May to acquire a majority stake in Trendyol GO, further solidifying its position in the region's digital services market.