Uber wins Turkish approval for Getir deal with $500M investment pledge

The Turkish Competition Board on Friday approved Uber Technologies Inc.'s acquisition of the delivery arm of Turkey's Getir from Emirati sovereign wealth fund Mubadala, removing a key regulatory hurdle for the $500 million expansion.

"The commitment by Uber Technologies Inc. to invest a total of US$500 million in Turkey is expected to support high-quality employment, strengthen local engineering capabilities, and positively contribute to the development of Turkey's digital and technology infrastructure," the competition board said in its decision.

The approval comes four months after Uber announced in February it had agreed to acquire Getir's delivery business, expanding its footprint in a market where food and grocery delivery has become increasingly competitive. The deal transfers ownership from Mubadala, which had been Getir's controlling shareholder, to the San Francisco-based company. Financial terms of the acquisition beyond the $500 million investment commitment were not yet disclosed.

For Uber, the acquisition strengthens its delivery segment — a high-growth priority — against local rivals including Yemeksepeti and Trendyol Yemek in Turkey's competitive online food delivery market. The $500 million investment pledge, directed toward technology infrastructure and engineering talent, shows Uber's long-term commitment to a country where it already operates ride-hailing and Uber Eats services. For Mubadala, the sale marks a strategic shift as the Abu Dhabi fund reallocates capital from venture-backed delivery startups toward other sectors.

The transaction reflects a broader consolidation trend in global food delivery, where deep-pocketed players are acquiring regional champions to gain scale. Uber's delivery segment, which includes Uber Eats, has been a key growth driver as the company expands beyond ride-hailing into adjacent markets. Turkey's online food delivery market has attracted significant international interest given the country's young, digitally native population of more than 85 million.

The competition board's approval removes the primary regulatory obstacle, though the deal may still require clearance from other jurisdictions where Getir operates, including the United Kingdom, Germany, and the Netherlands. The four-month review period in Turkey was consistent with the timeline for similar foreign acquisition reviews by the competition authority.

The approval also provides clarity for Mubadala, which had been seeking an exit from Getir after the rapid-delivery startup faced mounting losses as competition intensified and persistent inflation weighed on margins in Turkey. The deal's completion would mark one of the largest technology exits in Turkey's startup sector, validating the country's appeal as a destination for venture-backed companies.

Looking ahead, Uber's ability to integrate Getir's operations and deliver on the $500 million investment pledge will be closely watched by regulators and competitors alike. The company has committed to investing in local engineering talent and technology infrastructure, a condition that likely helped secure the competition board's approval. If successful, the deal could serve as a template for future foreign acquisitions in Turkey's technology sector.

This article is for informational purposes only and does not constitute investment advice.