Mubadala Sells Majority Stake in Turkish Car Rental Firm Getir Araç to TikTak

Getir Arac, a Turkish car rental business majority owned by Abu Dhabi's sovereign wealth fund Mubadala, has been sold to TikTak, another short-term car rental company in Turkey. Anadolu Group Holding's subsidiary Çelik Motor sold its 25% stake in Getir Arac for $5.51 million, while Mubadala's Getir Perakende, the 75% owner, also sold its stake to TikTak. Mubadala is reportedly exploring exiting all its investments in Getir's Turkish operations, including financing and car rental businesses, following a control tussle with Getir's founders linked to restructuring plans. Mubadala had acquired stakes in nearly all of Getir's subsidiaries since 2021 but is now divesting from some of these holdings. The sales marks a significant shift in ownership of Getir's car rental operations amid ongoing corporate restructuring efforts.