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Turkish car rental business Getir Araç, which was majority owned by Abu Dhabi sovereign wealth fund Mubadala, has been sold to Tiktak, another short-term car rental company in Türkiye, the minority shareholder announced on Friday.
Last month, two sources with knowledge of the matter told Reuters that Mubadala, the top shareholder in Turkish delivery company Getir, was exploring exiting all its Getir investments in Türkiye, including its financing and car rental businesses.
The move follows a tussle for control of the Turkish firm between Mubadala and Getir’s founders, linked to competing restructuring plans.
The sources had said Mubadala’s talks to sell its stake in Getir Araç were at an advanced stage.
Anadolu Group Holding said in a statement to the Borsa Istanbul Stock Exchange on Friday evening that its subsidiary Çelik Motor sold its 25% stake in Getir Araç for $5.51 million.
It said Mubadala’s Getir Perakende, which owned the remaining 75% of Getir Araç, also sold its stake to Tiktak.
