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TREconomy2 days ago

Türkiye approves Uber's acquisition of Getir delivery business

Türkiye has approved Uber Technologies Inc.'s acquisition of the delivery arm of Getir, a Turkish company, from Mubadala, the Emirati controlling shareholder. Uber previously acquired a majority stake in Trendyol Go, another delivery service in Türkiye. The Competition Authority highlighted the investment's potential to boost employment, enhance local engineering capabilities, and develop Türkiye's digital infrastructure. Uber also plans to merge Getir and Trendyol Go and has committed to establishing a software and technology development center in Türkiye.

Türkiye on Friday said it had approved Uber Technologies Inc.'s acquisition of ​the delivery arm ​of Turkish company Getir from ⁠Emirati controlling shareholder ​Mubadala.

The global logistics giant said ⁠in February it had agreed to acquire ⁠Getir's ​delivery arm, ​expanding the U.S.-based company's Turkish ​footprint.

"The commitment by Uber ​Technologies Inc. to invest a total of US$500 ​million in Türkiye ​is expected to support high-quality ‌employment, ⁠strengthen local engineering capabilities, and positively contribute to the development ​of ​Türkiye's ⁠digital and technology infrastructure," the Competition Authority (RK) said on Friday.

The deal comes after Uber purchased the majority of the stake in another popular delivery service firm – Trendyol Go – in Türkiye last year.

Following the closing of the deal, Uber said it plans to combine Getir and Trendyol Go.

Uber also announced last year it would establish a software and technology development center in Türkiye, with plans to invest $200 million.

Read the full article at Daily Sabah →
Source document: Competition Authority (RK)

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Daily SabahParty-alignedCenter2 days ago
Türkiye approves Uber's acquisition of Getir delivery business

Türkiye has approved Uber Technologies Inc.'s acquisition of the delivery arm of Getir, a Turkish company, from Mubadala, the Emirati controlling shareholder. Uber previously acquired a majority stake in Trendyol Go, another delivery service in Türkiye. The Competition Authority highlighted the investment's potential to boost employment, enhance local engineering capabilities, and develop Türkiye's digital infrastructure. Uber also plans to merge Getir and Trendyol Go and has committed to establishing a software and technology development center in Türkiye.

Bias read (Center): The article presents factual information about a corporate acquisition and associated economic commitments without overtly favoring any political side. It includes statements from the Competition Authority and mentions investments and strategic moves by Uber without apparent ideological framing or o

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  • governmentCompetition Authority (RK)