In recent months, the UAE-based investment fund Mubadala made moves to invest in several companies under Getir. Now, it’s making an even bigger move. Abu Dhabi-based investment company Mubadala Investment Company PSCJ has applied to the Turkish Competition Authority to take full control of Getir Retail Logistics Inc. Here are the details…
Getir could come under Mubadala’s control
According to a report by Bloomberg, the UAE investment fund Mubadala has applied to the Competition Authority to gain sole control of Getir. As published on the Competition Authority’s official website, Mubadala seeks to acquire full control of Getir.
Getir, which received a $250 million investment from Mubadala a few months ago, went through a restructuring process. After this investment, it was stated that the company would be divided, with Nazım Salur and other founders retaining minority shares and continuing to serve on the board.
Getir, which withdrew from the European market in recent months, to receive a new investment of $250 million, company is splitting in two.
With today’s announcements, it has been revealed that Mubadala Investment Company PJSC has applied to the Competition Authority to take sole control of Getir Retail Logistics Inc. While there is no further information at this time, it’s unclear what changes might occur at Getir.
However, it is expected that Getir will remain based in Turkey and continue its operations as usual. What do you think about this? Feel free to share your thoughts in the comments.
