Deals

Swiss Re Jumps as SoftBank Is Said to Eye $9.6 Billion Stake

Billionaire Son said to offer about 100-105 francs a share
Japanese investor said to be taking stake of about 25%

Bloomberg’s Pavel Alpeyev reports on SoftBank edging closer to a deal to buy a stake in Swiss Re AG.(Source: Bloomberg)

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By Manuel Baigorri, Dinesh Nair, and Jan-Henrik Foerster

March 28, 2018 at 8:01 PM UTC

Updated on

March 29, 2018 at 10:17 AM UTC

This article is for subscribers only.

Swiss Re AG jumped after people familiar with the matter said Japan’s SoftBank Group Corp. is edging closer to buying a quarter of the company, valuing the reinsurer at as much as 37 billion francs ($39 billion).

Billionaire Masayoshi Son could buttress the finances of his diverse SoftBank empire with steady cashflows from reinsurance through the acquisition. The Tokyo-based group has raised $93 billion out of a planned $100 billion for the world’s biggest private equity pool, while taking stakes in businesses including ride-hailing, chipmaking and office sharing.