The cash transaction, expected to close in the latter half of the year pending regulatory approval, marks a significant consolidation move within the global food-delivery sector.
- Updated On May 7, 2025 at 10:25 AM IST
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Uber Technologies agreed to buy 85% of a Turkish food and grocery delivery platform controlled by Chinese ecommerce giant Alibaba Group Holding, in the latest example of consolidation in the global food-delivery industry.
The transaction will be made in cash and on a debt-free basis, Uber said Tuesday in a filing with the US Securities and Exchange Commission. The deal is expected to close in the second half of the year, pending regulatory approval.
Once complete, the Trendyol Go app will continue to serve customers, merchants and couriers, and is expected to be accretive to Uber’s growth, the US rideshare and delivery giant said.
- Published On May 7, 2025 at 10:23 AM IST