Mubadala Looks to Exit Entire Stake in Getir Turkey

Abu Dhabi sovereign wealth fund Mubadala is exploring a full exit from its Turkish operations with Getir, which would include its delivery, financing and car-rental units, say people familiar with the matter. It is in advanced negotiations to offload Getir Arac, the car-rental arm, to Turkish firm Tiktak. Other units, including Getir Finans and the main delivery business, are also under consideration for sale.

Mubadala is Getir’s largest shareholder and obtained controlling interests across Getir’s Turkish subsidiaries in 2021 and 2024. The fund’s deliberations follow an ongoing dispute with the founders of Getir over how the company should be restructured. The founders resisted Mubadala’s plans, describing some actions by the fund as an “illegal coup”, and launched legal challenges in the Netherlands and elsewhere. The courts have, in some instances, sided with Mubadala.

Talks on Getir Arac are said to be well-advanced, although Tiktak has declined to comment. Meanwhile, in the delivery business, U. S.-based DoorDash has been identified as one of the potential buyers, among others. The details of ownership stakes in each Getir unit—delivery, financing, car rental—remain unclear. Mubadala has not offered public comment on these possible divestments.

Getir’s financial trajectory has weakened since its peak valuation of approximately $12 billion in 2022. The company expanded rapidly during the pandemic across several Western European markets and into North America, only to withdraw from those operations as demand waned and operational costs rose. As part of restructuring, non-core businesses were intended to be separated from profitable local grocery delivery operations.