Obilet sold to the French! Majority stake changes hands

The Competition Authority has approved the acquisition of Obilet, Turkey's leading online bus and flight ticket sales platform, by Comuto SA, the owner of the French travel giant BlaBlaCar. Founded in 2012, Obilet had reached a significant position in the sector by selling millions of liras worth of tickets annually.

TRANSACTIONS UNDERWAY

Obilet increased its market power and solidified its leading position in the sector by acquiring its competitor Biletall in 2021. Following this growth, the French travel giant BlaBlaCar acquired a majority of Obilet's shares. In its statement regarding the acquisition, the Competition Authority stated, "The acquisition of all shares of Obilet Bilişim Sistemleri AŞ by Comuto SA has been found appropriate." Following the approval of the application made in July, the purchase and transfer transactions are expected to be completed in the coming days.

EXACT SHARE RATIO REMAINS A QUESTION

Although the Competition Authority announced that it approved the transfer of all shares, Obilet officials speaking to Webrazzi stated that the sale transaction only covers the majority stake. However, the exact percentage of the shares sold has not yet been shared with the public.

With this acquisition, BlaBlaCar is expected to further strengthen its presence in the Turkish market, while Obilet is expected to further consolidate its leading position in the sector with an international brand.

News Source: 12punto