Uber Agrees to Buy Getir’s Delivery Business in Turkey
Couriers for the food delivery service Getir in Barcelona.
Photographer: Angel Garcia/BloombergUber Technologies Inc. has agreed to buy Turkish company Getir’s delivery operations from its controlling shareholder Mubadala Investment Co. in a deal that will bolster the US company’s position in the Middle East.
The deal spans Getir’s entire delivery portfolio, including food, grocery, retail and water, Uber said in a statement on Monday. Uber will acquire the food delivery portion of the business for $335 million in cash, the company said in a regulatory filing. It will also take a 15% stake in the remaining grocery, retail and water delivery portfolio for $100 million, and plans to buy the rest in the “next few years” if it meets certain performance milestones, it said.