M&A - Uber Technologies, Inc

Form Type: 8-K

Filing Date: 2025-05-06

Corporate Action: Acquisition

Type: New

Accession Number: 000155278125000160

Filing Summary: On May 6, 2025, Uber Technologies, Inc. announced it has entered into an agreement to acquire an 85% controlling stake in Trendyol Group's Trendyol GO online meal and grocery delivery business in Türkiye for approximately $700 million in cash on a cash and debt-free basis. The acquisition is projected to enhance Uber's growth and the company expects the transaction to close in the second half of 2025, pending regulatory approval and other closing conditions. Trendyol GO has significantly grown, delivering over 200 million orders in 2024 and generating $2 billion in gross bookings, which is a 50% increase from the previous year.