The dispute between the United Arab Emirates (UAE) state fund Mubadala and Getir is growing. According to the statement made by Getir Founder Nazim Salur, Mubadala wants to “undermine” Getir’s rights by “unlawfully ignoring” the agreement made to divide the company.
What did Getir Founder say about Mubadala?
Mubadala, the United Arab Emirates-affiliated investment fund, which took action to invest in several companies under Getir in recent months, made a bigger move. Abu Dhabi-based investment company Mubadala Investmen Company PSCJ applied to the Competition Authority to take full control of Getir Retail Logistics Joint Stock Company.
In a statement made by Getir, it was stated that Mubadala changed its stance after the value of some companies increased after the agreement and therefore legal proceedings were initiated.
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The statement said, “UAE state fund Mubadala is unlawfully ignoring the agreement we made to split Getir in two and wants to trample on our rights. Suddenly, companies that should have remained under our management have increased in value. We have initiated legal proceedings. We will make more detailed statements in the future.”
With Getir initiating legal proceedings, the future of the dispute has become a matter of curiosity. The claims of the parties and the decisions to be made at the end of the legal process will determine the course of the incident. Mubadala has not yet made an official statement on the subject.
