ISTANBUL, Nov 24 (Reuters) - Uber ( UBER ) has reached

agreement on key elements of a deal to acquire Turkish delivery

company Getir's food business from Emirati controlling

shareholder Mubadala, and they have sought approval from Turkish

authorities, two sources told Reuters.

A sale of Getir Food would mark another step in the exit

from Turkey of Mubadala, Abu Dhabi's $330 billion sovereign

wealth fund, and would also expand the local market share of

Uber Eats, the food delivery app of Uber Technologies ( UBER ).

Any final purchase deal would hinge in part on the review

that has begun by Turkey's Competition Board, according to the

two people familiar with the matter, who requested anonymity to

discuss confidential information.

PROPOSED SALE PRICE UNCLEAR

The proposed sale price was unclear, and the sources said a

final deal may not ultimately happen. One source said the

proposal was submitted to authorities "for final approval".

Representatives from both Uber ( UBER ) and Mubadala declined to

comment about the proposed transaction and discussions with

regulators. Getir referred questions on the matter to Mubadala.

The Competition Board did not immediately comment.

The submission to competition authorities and the progress

in talks between Uber ( UBER ) and Mubadala have not yet been reported.

Earlier this month, Bloomberg reported the two sides had begun

preliminary talks on a potential deal.

MUBADALA'S RETREAT FROM TURKISH MARKET

Last month, Mubadala sold Getir Arac, the car-rental

business, to Turkey-based Tiktak.

In September, Reuters reported Mubadala was in advanced sale

talks on Arac with Tiktak. It was also holding potential sale

talks over the delivery business, including Getir Food, and a

finance unit as it explored a full exit from the Turkish sector,

the report said.

Meanwhile Uber ( UBER ) is expanding in Turkey. In May, it said it

would acquire a majority stake in Turkey-based Trendyol GO for

$700 million, adding that it planned to roll out features from

the Uber Eats platform in the country.

Getir and Trendyol are among Turkey's more established food

delivery companies, competing with others including heavyweight

Yemeksepiti, which is owned by Germany-based Delivery Hero

.

Getir grew rapidly during the COVID-19 pandemic, expanding

in Western Europe and the United States, and was valued at $12

billion in 2022 following an investment round in which Mubadala

took part.

It later suffered declining consumer demand and, in a

dramatic turnaround, restructured and shut down its

international operations. Mubadala took control of Getir assets

early this year.