SoftBank to buy 15% stake in Uber, pump in $1 billion
New York, December 29
Japanese conglomerate SoftBank will pick up 15% stake in Uber and pump in $1 billion as primary investment in the US-based ride-hailing app in early 2018, according to multiple sources.
Two people close to the developments said SoftBank Group Capital Ltd, a wholly owned subsidiary of SoftBank Group, will hold 15% share in Uber and is expected to also get two seats (out of 17) on Uber’s Board.
The tender offer will also see the remaining members of the consortium picking up about 3% stake, another official said. Previously, Uber had entered into a pact with a consortium led by SoftBank and Dragoneer to explore a potential investment. — PTI
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