Planning to buy at least 14 per cent of the ride-sharing firm
SoftBank and a group of investors are planning to buy a stake in Uber at a steep discount from the company’s current valuation.
The Japanese giant and an investor coalition of Dragoneer Investment Group and General Atlantic, are reportedly offering to buy shares at a $48bn valuation, a 30 per cent discount from Uber’s current $69bn valuation, according to a report from Bloomberg.
SoftBank wants to acquire at least a 14 per cent stake in the ride-hailing company, which already passed a series of governance changes in October to help pave the way for the deal.
Locking in the investment has been a top priority for new Uber Chief Executive Officer Dara Khosrowshahi, who sees the deal as chance to close rifts and land a powerful new ally.
Uber has had an abysmal year, with its co-founder and former CEO resigning under pressure and the company admitting it concealed a hack that exposed personal data of 57 million customers and drivers.