08:59 AM EDT, 05/06/2025 (MT Newswires) -- Uber Technologies ( UBER ) said Tuesday it has entered into an agreement to acquire an 85% controlling stake in Trendyol GO, Trendyol Group's online meal and grocery delivery business in Turkey, for about $700 million in cash.

The acquisition, which is expected to be accretive to the company's growth, is subject to various closing conditions including regulatory approval and is slated to close in H2, Uber ( UBER ) said.

Trendyol GO generated $2 billion in gross bookings in 2024 and delivered over 200 million orders last year, the company said.

UBER ( UBER ) shares were 1.5% lower in recent premarket activity.