Mubadala divests its stake in Getir Arac: Mubadala and Anadolu GroupHolding’s automotive arm Celik Motor sold Getir’s car rental subsidiary Getir Arac to Turkish car-sharing firm Tiktak, according to an Anadolu statement to the Istanbul stock exchange. Mubadala first invested in Getir in 2021 and last year led a USD 250 mn funding round for the company, gaining controlling stakes in most of its subsidiaries, which include a financing arm and a core delivery unit.

The details: Anadolu sold its 25% stake in Getir Arac to Tiktak for USD 5.5 mn, while Mubadala’s Getir Perakende offloaded the remaining 75% stake to the same buyer.

We saw this coming: Last month, Reuters reported that talks to sell Getir Arac were at an advanced stage with Tiktak. Multiple buyers are also reportedly circling Getir’s core delivery unit, including US-based DoorDash, though discussions remain ongoing.

The transaction comes after a power struggle between Mubadala and Getir’s founders regarding conflicting restructuring strategies as the firm struggled through cashburn and a plummeting valuation, with Mubadala seeking full ownership of the core delivery unit and its co-founder Nazim Salur opposing the move.

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