Getir shareholders to split business in two amid UK market exit
Getir’s exit from the UK market was confirmed in the spring of this year and is said to represent a full-scale retreat of the food delivery app
Getir’s shareholders have reportedly backed a restructuring that means the Abu Dhabi state fund Mubadala will inject an investment of up to $250 (£197m) into the food delivery app, according to Sky News.
This comes after Getir held a general meeting yesterday (23 June), where investors approved to split it into two independent companies.
Once split, it is understood that one half will consist of food and grocery delivery in Turkey and will be majority-owned and controlled by Mubadala and the other will be a standalone business including Getir Drive and BiTaksi, which will be run by Getir founder Nazim Salur.
Getir’s exit from the UK market was confirmed in the spring of this year and is said to represent a full-scale retreat of the food delivery app which was once valued at close to £10bn.
It is understood that Mubadala had agreed to the $250m injection into the company to both facilitate the orderly wind-down of its UK and European operations and to invest in its growing Turkish presence.
Getir has been approached for comment.
