– Getir announced its decision to withdraw from international markets, including the United States, Germany, the United Kingdom, and the Netherlands.
– Abu Dhabi’s Mubadala Investment Co. will acquire a controlling stake in Getir’s domestic grocery and food business in Turkey, leading a $250 million capital infusion as part of a restructuring plan.
– Under the restructuring scheme, Getir co-founder and CEO Nazim Salur and his co-founders will hold minority stakes in the grocery venture while taking controlling stakes in a new entity comprising Getir’s other businesses, including BiTaksi, a jobs board, the N11 shopping platform, and the US-based FreshDirect grocery business.
Abu Dhabi’s Mubadala Investment Co. is poised to acquire a controlling stake in the Turkish food delivery company Getir. According to a Bloomberg report, Getir’s investors have approved a restructuring plan that will split the business and inject fresh capital totaling $250 million.
The UAE firm, already an investor in Getir, will lead this new capital infusion and obtain a controlling interest in Getir’s domestic grocery and food operations in Turkey.
As part of the restructuring, Getir’s co-founder and CEO Nazim Salur, along with his co-founders, will retain minority stakes in the grocery venture. Additionally, they will take controlling stakes in a new entity that includes Getir’s other businesses, such as BiTaksi, a jobs board, the N11 shopping platform, and the US-based FreshDirect grocery business.
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