Deals
Uber Investors Agree to Sell Stake in SoftBank Deal
- Secondary share purchase values ride-hailer at $48 billion
- SoftBank-led group to also invest $1.25 billion in Uber
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Uber Technologies Inc. shareholders agreed to sell a sizable stake in the ride-hailing leader to an investor group led by SoftBank Group Corp., allowing the Japanese conglomerate to amass a piece of the company at a steep discount to the last valuation.
The transaction implies a $48 billion value for Uber, according to a person familiar with the deal. The investor group, which includes SoftBank, Dragoneer Investment Group, TPG, Tencent Holdings Ltd. and Sequoia Capital, also will put $1.25 billion directly into the San Francisco-based business, at a higher valuation of $69 billion.