Dispute Between Getir and Mubadala Escalates: Legal Action on the Horizon

Getir, the rapid delivery company that gained prominence during the pandemic, is now embroiled in a heated conflict with its largest investor, Abu Dhabi’s sovereign wealth fund Mubadala. Founding partners of Getir allege that Mubadala has violated a prior agreement and is attempting to seize their rights unlawfully. Nazim Salur, one of the company’s founders, announced that legal action would be taken, accusing Mubadala of acting against the terms of their previous deal.

Agreement to Split Operations and Secure $250 Million

In June 2023, as demand declined post-pandemic, Getir opted to shut down its international operations and split the company in exchange for a $250 million investment from Mubadala. Under this agreement, Getir’s grocery and food delivery operations in Turkey would come under Mubadala’s control, while other subsidiaries—including e-commerce, finance, mobility, and FreshDirect in the United States—would be transferred to a new structure largely owned by Getir’s founding team.

However, the implementation of this plan has reportedly faced significant delays. Founders claim that only two of the seven promised subsidiaries have been transferred, while Mubadala allegedly refuses to transfer the remaining five, including Getir Finans. Furthermore, Mubadala has called for an extraordinary general assembly meeting, raising concerns that the fund seeks to gain full control of Getir Turkey.

Salur Accuses Mubadala of “Unlawful Seizure”

Nazim Salur took to social media to voice his frustrations, stating, “The UAE’s sovereign wealth fund Mubadala unlawfully disregards the agreement to split Getir and is attempting to seize our rights.” Salur accused Mubadala of aiming to take over the founders' shares through “illegal and forceful measures.” He assured that legal proceedings had already been initiated to counter these actions and promised further details would be shared in due course.

Mubadala Defends Its Position with New Plan

In response to the allegations, Mubadala issued a statement asserting that the new mechanism it has proposed will “ensure financial stability for Getir and support the long-term operational plan while safeguarding employment for 18,000 Turkish workers.” Mubadala claimed the alternative plan was introduced after the founders demonstrated they could not fulfill the terms of the initial agreement. The proposal will be presented for approval at an upcoming general assembly meeting.

Meanwhile, some of Getir’s founders have sought to halt the extraordinary meeting by filing a petition with the Dutch Chamber of Commerce, requesting the appointment of an independent representative to the company. A decision on this petition is expected soon, according to sources.

A Company at a Crossroads

Once valued at over $10 billion during the pandemic, Getir has become a household name in rapid delivery services. However, the ongoing dispute with Mubadala raises questions about its future. As both parties prepare for legal battles and extraordinary meetings, the outcome will likely have far-reaching implications for the company, its founders, and its employees. The industry is closely watching how this high-stakes corporate conflict unfolds.