SoftBank Group and a group of investors are attempting to shop for a stake in Uber Technologies at a sizeable discount to the company's $69-billion valuation, in quest of to clinch what can be one of the most greatest purchases of stock in a non-public corporate.
SoftBank and partners, including funding corporations Dragoneer Investment Group and General Atlantic, are offering to spend more than $6 billion for a stake that will value the ride-hailing corporate at $48 billion, or about 30% not up to the valuation it fetched in its most up-to-date round of fundraising, according to other folks accustomed to the deal.
Locking within the funding from Japan's SoftBank has been a best priority for new Uber CEO Dara Khosrowshahi, who sees the deal as an opportunity to near rifts and land an impressive new best friend. Uber has had an abysmal yr, with its co-founder and former CEO resigning beneath force and the company admitting it concealed a hack that exposed non-public information of 57 million customers and drivers.
"SoftBank's expectation that it can get shareholders to part with their shares at about $50 billion builds in all the negative news," says Kirk Boodry, an analyst at New Street Research. "All of this over the past year has contributed to the downside." If it is a hit, the SoftBank-led coalition would buy no less than 14% of the shares from current Uber investors.
SoftBank and partners, including funding corporations Dragoneer Investment Group and General Atlantic, are offering to spend more than $6 billion for a stake that will value the ride-hailing corporate at $48 billion, or about 30% not up to the valuation it fetched in its most up-to-date round of fundraising, according to other folks accustomed to the deal.
Locking within the funding from Japan's SoftBank has been a best priority for new Uber CEO Dara Khosrowshahi, who sees the deal as an opportunity to near rifts and land an impressive new best friend. Uber has had an abysmal yr, with its co-founder and former CEO resigning beneath force and the company admitting it concealed a hack that exposed non-public information of 57 million customers and drivers.
"SoftBank's expectation that it can get shareholders to part with their shares at about $50 billion builds in all the negative news," says Kirk Boodry, an analyst at New Street Research. "All of this over the past year has contributed to the downside." If it is a hit, the SoftBank-led coalition would buy no less than 14% of the shares from current Uber investors.
SoftBank offers to buy Uber shares at 30% discount
![SoftBank offers to buy Uber shares at 30% discount]()
Reviewed by Kailash
on
November 29, 2017
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