Softbank-Backed Loggi Will Work With Citigroup to Sell Stake to Investors
- Private stake sale to Asia investors is preferred outcome
- Sao Paulo-based startup operates in all Brazil state capitals
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Brazilian delivery startup Loggi Tecnologia Ltda, which is backed by SoftBank Group Corp., is working with Citigroup Inc. to sell a stake to investors, people familiar with the matter said.
The firm, also backed by Microsoft Corp., is exploring strategic options and a private stake sale to investors in Asia is the preferred outcome, the people said, asking not to be named because the discussions are private. An initial public equity offering may be an alternative, depending on market conditions, the people said. Loggi was valued at close to $2 billion in its latest funding round, in March 2021.