Türkiye on Friday said it had approved Uber Technologies Inc.'s acquisition of the delivery arm of Turkish company Getir from Emirati controlling shareholder Mubadala.
The global logistics giant said in February it had agreed to acquire Getir's delivery arm, expanding the U.S.-based company's Turkish footprint.
"The commitment by Uber Technologies Inc. to invest a total of US$500 million in Türkiye is expected to support high-quality employment, strengthen local engineering capabilities, and positively contribute to the development of Türkiye's digital and technology infrastructure," the Competition Authority (RK) said on Friday.
The deal comes after Uber purchased the majority of the stake in another popular delivery service firm – Trendyol Go – in Türkiye last year.
Following the closing of the deal, Uber said it plans to combine Getir and Trendyol Go.
Uber also announced last year it would establish a software and technology development center in Türkiye, with plans to invest $200 million.
