Abu Dhabi sovereign wealth fund Mubadala, the largest shareholder in Turkish delivery firm Getir, is considering a full exit from its investments in Turkey, including the group’s financing and car rental arms, two sources familiar with the matter said.
The potential retreat comes amid a power struggle between Mubadala and Getir’s founders tied to rival restructuring proposals.
Talks for the sale of Mubadala’s stake in Getir Arac, the company’s car-rental unit, are at an advanced stage with Turkish firm Tiktak, the sources noted, requesting anonymity due to the private nature of discussions. Mubadala declined to comment, while Tiktak did not respond to inquiries.
Mubadala currently controls stakes in Getir’s grocery delivery arm, Getir Arac and Getir Finans, according to filings with competition regulators. The exact size of its holdings could not be confirmed.
Mergermarket previously reported Mubadala’s discussions over a sale of its stake in Getir’s core delivery operations, with U.S.-based DoorDash among potential suitors. DoorDash declined to comment. The two sources said talks with multiple parties remain ongoing.
The planned exit from Getir Finans and Getir Arac has not been reported before, and it remains uncertain if the discussions will lead to definitive deals.
A successful sale would represent a complete withdrawal for Mubadala, which manages USD 330 billion in assets. The fund built up stakes in most Getir subsidiaries last year, after first investing in the company in 2021.
Getir, once valued at USD 12 billion during the pandemic-fuelled surge in demand, expanded across Western Europe and the U.S. before retreating and shutting overseas operations amid falling orders and partner disputes.
