Giant deal in the delivery market: The Competition Authority approved the acquisition of 'Getir' operations by Uber

[90609] Giant deal in the delivery market: The Competition Authority approved the acquisition of 'Getir' operations by Uber

The Turkish Competition Authority has approved the sale of Getir's delivery operations to the tech giant Uber, as part of a deal that includes a $500 million investment in the local market.

Giant deal in the delivery market: The Competition Authority approved the acquisition of 'Getir' operations by Uber

The Competition Authority in Turkey has officially approved the giant deal in which international tech giant Uber is acquiring the delivery and food operations of the company Getir. According to Borsa Haber Hisse, the joint operations will be consolidated under the Uber Eats brand and will also include the Getir and Trendyol Go platforms.

Transaction details and Uber's commitments

According to reports, as per Gündem Hattı, Uber acquired the delivery operations from the Emirati investor, Mubadala, for the sum of $335 million. The Authority's approval was granted subject to strict conditions: According to Haber Gündem, Uber has committed to investing $500 million in the Turkish market, with the goal of "strengthening local engineering capabilities and providing high-quality employment."

Changes on the ground

The move marks a dramatic shift in the Turkish delivery market. According to TurkishNews, this approval is a direct continuation of Uber's expansion policy in the region, which also included the acquisition of a controlling stake in Trendyol Go last year. Now, operations will be centralized under a single Uber Eats division, a move receiving widespread media coverage in Turkish outlets, including TGRT HABER, who are reporting on the conclusion of the regulatory approval process.

The reports in the various sources (which focus primarily on business and economic updates) provide a uniform consensus regarding the terms and parties involved in the transaction.