Abu Dhabi State Fund Mubadala Invests $250m in Turkish Food Delivery App
- Getir’s shareholders approve restructuring plan
- Mubadala to inject $250m into the company
- Business to be split into two independent companies
- One half for food and grocery delivery in Turkey, other for Getir Drive and BiTaksi
Getir’s shareholders have approved a restructuring plan that will see the company split into two independent entities. One half of the business will focus on food and grocery delivery in Turkey, majority-owned by Mubadala, while the other will include Getir Drive and BiTaksi under founder Nazim Salur’s control. The decision comes after the company exited the UK market earlier this year. Mubadala agreed to invest $250m to support the wind-down of its European operations and expand in Turkey.
Factuality Level: 8
Factuality Justification: The article provides accurate information about Getir’s restructuring, Mubadala’s investment, the split into two independent companies, and the exit from the UK market. It also mentions the involvement of Getir founder Nazim Salur in one half of the company. However, it lacks some details on the exact percentage of ownership for each half and the specific plans for the standalone business.
Noise Level: 3
Noise Justification: The article provides relevant information about Getir’s restructuring and investment but lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Getir, Mubadala, food delivery industry
Financial Rating Justification: The article discusses a financial investment of up to $250 million by Mubadala into Getir and the restructuring of the company’s operations in Turkey and Europe, which impacts the financial markets related to these companies and the food delivery industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
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