UAE’s DMSF moves to fully acquire Turkish e-commerce firm N11

DMSF Holding, a diversified investment company based in the United Arab Emirates, applied with the Turkish Competition Authority on April 2 to acquire 100% of the shares in Turkish e-commerce company N11.

Details of the agreement have not yet been disclosed, as neither party has issued an official statement regarding the deal.

N11 was originally established in 2013 as a joint venture between Türkiye’s Dogus Group and South Korea-based SK Group. In June 2023, the e-commerce platform was acquired by Turkish delivery company Getir. Following a change in Getir’s management led by its largest investor, Mubadala, N11 shares were transferred in 2024 to Borancili Teknoloji, a company owned by Getir co-founder Serkan Borancili.

DMSF Holding, headquartered in Abu Dhabi, operates across various sectors, including import-export, retail, warehousing, logistics, and real estate development.

The firm is active in both local and international markets, focusing on strategic partnerships to drive its growth.

The transaction is subject to the approval of the Turkish Competition Authority.