By Kelly Cloonan
Uber Technologies has entered into an agreement with Trendyol Group to buy a controlling stake in its Turkish food-delivery platform Trendyol GO for $700 million in cash.
The ride-hailing company on Tuesday said it has agreed to acquire an 85% stake in the online meal and grocery delivery business, according to a filing with the Securities and Exchange Commission.
Trendyol GO delivered more than 200 million orders last year as gross bookings rose to $2 billion, up more than 50% from the prior year, Uber said.
The transaction is expected to close in the second half of the year, subject to regulatory approval, Uber said.
Once the deal is complete, the Trendyol GO app will continue to serve customers, merchants and couriers while Uber introduces capabilities from its Uber Eats delivery platform over the coming years, Trendyol Group said.
Uber expects the transaction to be accretive to its growth post-integration.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 06, 2025 11:25 ET (15:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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