2023-08-13 18:29:21
SoftBank Group Corp. is in talks to buy a 25% stake in Arm Ltd, which it does not directly own, from its owner, the $100 billion Vision 1 investment fund it raised in 2017, according to Archyde.com, citing people familiar with the matter.
The agency said that if the negotiations resulted in an agreement, this would strengthen the position of the investors in the fund, including the Saudi Public Investment Fund and the Mubadala company in Abu Dhabi, to achieve immediate gains.
The chip maker is targeting an initial public offering at a valuation of between $60 billion and $70 billion as early as September, Bloomberg reported earlier this month.
Several technology companies, including Amazon, Intel and Nvidia, are in talks to become an initial public offering investor, people familiar with the matter said.
The Raine Group is advising SoftBank on these negotiations.
Masayoshi Son, founder and CEO of SoftBank, said he avoided participating in the deliberations on the Vision 1 deal until the fund had made an independent decision in favor of its investors.
SoftBank, Vision 1 and Arm all declined to comment. Rain Group did not immediately respond to requests for comment from the agency.
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