UPDATE - Uber to acquire Turkish delivery startup Getir's food delivery unit in Türkiye for $335M

ADDS ACQUISITION AMOUNT TO HEADLINE, LEDE, DETAILS

By Gokhan Ergocun and Mucahithan Avcioglu

ISTANBUL (AA) - Global tech-based logistics firm Uber has reached a $335 million agreement for the acquisition of Turkish startup Getir's food delivery business in Türkiye, according to a statement by Uber.

The acquisition process is set to conclude following regulatory approvals and the fulfillment of transaction conditions, according to the statement.

Additionally, Uber said it will invest $100 million to acquire a 15% stake in Getir’s grocery, retail, and water delivery business in Türkiye

Uber last year acquired a majority stake in a similar firm, Trendyol Go, in Türkiye.

A joint statement from the firms said the firm would bring Getir and Trendyol Go together under the Uber umbrella.

It said Uber plans to contribute to the growth of the ecosystem by combining the distinct capabilities of Getir and Trendyol Go following approval of the transaction.

The companies reported that when the process was completed, Getir users would continue to access the Getir app while also benefiting from Trendyol Go's wide restaurant network.

It added that Trendyol Go users would be able to reach Getir services directly through their own apps.

"The acquisition of the remainder of Getir’s delivery portfolio across grocery, retail and water delivery is expected to close in the next few years, subject to certain operating and financial performance conditions being met," it said.