Uber to acquire delivery business of Turkey’s Getir

Uber said on Monday it has agreed to buy the delivery arm of Turkey’s Getir from Emirati controlling shareholder Mubadala, expanding the US-based company’s Turkish footprint.

Separately, Uber disclosed in an SEC filing that it would pay $335 million “in cash on a cash and debt free basis” to completely acquire Getir’s food delivery business.

The filing also showed it is to invest $100 million to acquire 15 percent of Getir’s food, grocery, retail and water delivery services.

It was reported in November that Uber had reached an agreement in principle with Mubadala to buy Getir’s food delivery arm and was awaiting approval from Turkish authorities.

Uber said in the announcement it aims to combine elements of Getir and Turkey’s Trendyol GO, an earlier acquisition, to “support the continued growth of a vibrant and competitive ecosystem” that benefits consumers, couriers and merchants.

In May last year Uber agreed to acquire 85 percent of Trendyol GO for $700 million.

Further reading:

• Uber seeks Turkish approval to buy Getir Food from Mubadala
• Uber enters Turkey’s food delivery sector with $700m buyout
• Uber to invest $200m to set up tech centre in Turkey