Uber Technologies Inc. is negotiating with Getir for a potential acquisition of its Turkish delivery operations to expand its presence in Türkiye.
Uber has engaged in preliminary discussions with Mubadala Investment Co., Getir’s primary investor, regarding the acquisition of key components of the Turkish company. The potential deal primarily targets Getir’s delivery business and could reach a valuation of up to $1 billion, contingent on the final assets included in the transaction.
This prospective acquisition could solidify Uber’s position in the delivery sector. Getir was a prominent rapid-delivery provider, once valued at $11.8 billion. However, the company substantially reduced its operations post-Covid-19 pandemic and underwent a restructuring last year.
The scope and framework of a potential deal remain under discussion, and the negotiations may not result in a transaction. Getir’s delivery business may also attract interest from other prospective buyers.
Mubadala is evaluating the separate sale of Getir’s finance business. Representatives for Uber, Mubadala, and Getir declined to comment on the ongoing discussions.
