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Turkish competition board says Mubadala applied to take control of Getir
1 min Mena Today
Abu Dhabi's Mubadala Investment Company applied to Turkey's Competition Board to take sole control of Turkish grocery delivery company Getir Perakende Lojistik, a statement on the board's website showed on Friday.
Getir is a Turkish-based rapid delivery service that brings groceries and everyday essentials directly to customers' doors © Mena Today
Abu Dhabi's Mubadala Investment Company applied to Turkey's Competition Board to take sole control of Turkish grocery delivery company Getir Perakende Lojistik, a statement on the board's website showed on Friday.
No further details were immediately available.
In June, Getir said it received a new $250 million investment and would split into two groups as part of a restructuring plan to focus on different markets.
Under the plan, existing shareholder Mubadala was to inject capital and hold the management and majority stake in Turkish operations as part of restructuring while founders, Nazim Salur and others, were to have a minority stake.
In April, Getir said it was withdrawing from its remaining European markets to focus on its main home market, marking an abrupt turnaround after expansion and boom in recent years.
Reporting by Can Sezer
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