Türkiye's competition watchdog on Friday said Abu Dhabi's sovereign wealth fund Mubadala Investment Company had applied to take sole control of Turkish grocery delivery company Getir.
The announcement was made on the Competition Authority's (RK) website. No further details were immediately available.
In June, Getir said it received a new $250 million investment and would split into two groups as part of a restructuring plan to focus on different markets.
Under the plan, existing shareholder Mubadala was to inject capital and hold the management and majority stake in Turkish operations as part of the restructuring, while founders Nazım Salur and others were to have a minority stake.
In April, Getir said it was withdrawing from its remaining European markets to focus on its main home market, marking an abrupt turnaround after expansion and boom in recent years.
The company gained significant global traction during the COVID-19 pandemic, which eventually saw it reach a valuation of over $10 billion.
However, the company has recently faced challenges due to shifting consumer habits and tightening financial conditions, prompting it to downsize.
