The negotiations initiated by Getir in August to invest in n11, one of Turkey’s leading shopping platforms, have been completed. After the approval of the Competition Authority, Getir will become a partner in n11 with a capital increase and will be responsible for the management of the company.
Keeping its rapid growth both in Turkey and abroad, Getir started partnership negotiations for n11 in August last year. In the past weeks, the Competition Authority has approved the purchase of some of the shares of n11 with a capital increase.
In n11, which was established in March 2013 with the partnership of Dogus Holding Inc. and SK Planet Co. Ltd., one of the largest groups in South Korea, the existing partners will remain in the company, while Getir will be responsible for the management control of the company.
GETIR’S LARGEST PURCHASE IN TURKEY
Bringing more than 20 million products and more than 270 thousand registered business partners together with more than 23 million users, the investment in n11 has been the largest acquisition investment that Getir has ever made in Turkey.
Source: NTV / Translated by Irem Yildiz