In a previous report on Ridesharing Forum, Uber announced its acquisition of Getir, a food delivery platform in Türkiye, for a whopping $335 million. The acquisition was still under regulatory check that time, but the ridesharing app was looking at investing a $100 million stake, too, for 15 percent in Getir’s grocery and retail, as well as water delivery units.
Under this soon-acquisition, Getir and Uber’s Trendyol Go platform would be integrated.
Now, you should know, too, that Getir was previously owned in a significant part by Mubadala, a massive sovereign wealth fund company from Abu Dhabi in the United Arab Emirates, which invested in Getir and its various subsidiaries in 2021.
But, does Uber know that Getir and Mubadala Investment, otherwise referred to by some as Mubdala Investment, are currently in a business conflict right now? In this special report, let’s uncover the details.
According to a recent report in The Times of India, the co-founders of Getir, Nazım Salur and Serkan Borançılı, just filed a $700 million lawsuit against Mubdala. They are accusing the company that the sovereign wealth fund breached a restructuring agreement last 2024 by withholding key assets they were promised. That’s bad.
This lawsuit came after Uber announced the planned acquisition.
In June 2024, under which Mubadala Investment, had taken majority control of Getir’s operations in its home turf, agreed to transfer a certain bundle of assets to the founders as part of the restructuring of the company. These included international units and Getir in the most critical position.
Getir’s co-founders argue that only the least profitable elements, such as New York-based grocery delivery business FreshDirect, and online eCommerce tool n11 were handed to them, and Getir, which holds most value, was not.
The lawsuit claims betrayal, saying that Mubdala and its associated entities “conspired” to breach the terms, leaving Getir with diminished control.
Was Uber’s plan in the wrong timing? As the plot thickens and more twists unfold, this case, which is under London’s High Court, will last months, and possibly years, The Times of India stated, before it is closed. The most loyal will win.