Uber said it would buy a majority 85 per cent stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.

The ride-hail and delivery giant has acquired an 85% controlling stake in Trendyol Go, the online meal and grocery delivery business based in Istanbul, for about $700 million in cash. The deal gives Uber instant market share for Uber Eats in the country, where Uber currently only operates a ride-hail service.