Uber Approves SoftBank Multibillion-Dollar Investment Offer

Uber Technologies Inc. approved SoftBank Group Corp.’s offer to buy a multibillion-dollar stake in the ride-hailing company, setting the stage for one of the largest private start-up deals ever.

The agreement lets SoftBank and other firms invest up to $1 billion in Uber and proceed with a tender offer in coming weeks to buy up to $9 billion in shares from existing investors. The deal also includes Uber governance changes.

News In-a-Line:
Uber Technologies Inc.- approved SoftBank Group Corp.’s offer- to buy a multibillion-dollar stake in the company.

Static/Current Takeaway Points Important for IBPS PO Mains 2017 Exam-
  1. Uber CEO- Dara Khosrowshahi, Headquarters- California, USA.
  2. Softbank Chairman & CEO- Masayoshi Son, Headquarters- Tokyo, Japan.

Source- Bloomberg


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