Deals
SoftBank Quietly Sells Another $2.2 Billion of Its Alibaba Stake
- Arrangement includes a collar contract and call spread
- Settlement is expected between May 2024 and June 2024
Signage for SoftBank Corp. near a store in Tokyo.
Photographer: Bloomberg/BloombergThis article is for subscribers only.
SoftBank Group Corp. quietly sold an additional $2.2 billion of its stake in Alibaba Group Holding Ltd. as part of the Japanese conglomerate’s fund-raising effort to pay down debt and buy back its own shares.
The deal, which includes a collar contract and call spread, is expected to be settled between May 2024 and June 2024. The details were disclosed on page 276 of SoftBank’s year-end financial filing released on June 25, but have not been previously reported. A SoftBank Group spokesman confirmed the details of the sale.