Mubadala weighs full exit from Getir investments in Turkiye
Abu Dhabi’s sovereign wealth fund Mubadala is considering selling all its stakes in Turkish delivery giant Getir, including its financing and car-rental arms.
The potential move comes amid a struggle for control of Getir between Mubadala and the company’s founders, who back rival restructuring plans, News.Az reports, citing Reuters.
Talks over Mubadala’s stake in car-rental unit Getir Arac are at an advanced stage with Turkish company Tiktak, the sources said. Mubadala declined to comment, while Tiktak did not respond to requests.
Mubadala holds controlling shares in Getir’s grocery delivery, financing, and car-rental businesses, though the exact stakes are unclear. The fund first invested in Getir in 2021 and expanded its holdings last year.
Discussions are also ongoing to sell Getir’s core delivery business, with multiple potential buyers involved, including U.S.-based DoorDash, according to earlier reports. DoorDash has declined to comment.
If completed, the sales would mark a full exit for Mubadala, which manages $330 billion in assets, just three years after Getir’s $12 billion peak valuation in 2022. The company’s rapid expansion during the pandemic was followed by a sharp downturn in demand, prompting restructuring and the closure of its international operations.
Legal disputes between Mubadala and Getir’s founders have added to the turmoil. Earlier this year, an Amsterdam court dismissed the founders’ appeal against Mubadala’s proposed restructuring plan.
Getir, once hailed as a global quick-commerce pioneer, valued its group assets at $374 million in a January filing with a Dutch court.
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