A consortium of investors led by Softbank Group Corp has won a significant share of Uber, the urban transport service in competition with the traditional taxi and chauffeur-driven rental cars. The transaction values Uber at 48 billion dollars, communicated the same company, presenting the offer as a success for the new Cief Executive Dara Khosrowshahi who will thus be able to aim for entry into the Asian markets. Softbank is a large Japanese telecommunications group that offers fixed-line, mobile, broadband Internet, e-commerce, finance and other services. The Softbank operation had begun in November with a first agreement which then resulted in a negotiation that ended on Thursday.
The price represents roughly a 30% discount on Uber's recent $68 billion valuation. According to overseas observers, the deal will bring about a change in the management of the company and in the way in which the Board supervises the company which has to face some federal investigations, high-risk lawsuits and a review of its corporate culture.
SoftBank and the other members of the consortium, which also includes Dragoneer Investment Group, under the agreements buy about 17,5% of Uber. The stake also includes the purchase of shares, through a public offering, of former investors and employees at the same valuation of $48 billion as well as a $1,25 billion investment in freshly pegged funds at the $68 billion valuation.
