Softbank to sell Arm chip business to Nvidia for $ 40 billion
Kyodo news agency reported that Japan's Softbank Group Corp. is set to sell its wholly owned stake in British chip designer Arm to Nvidia, the US semiconductor company. In the maximum amount of 40 billion dollars
The sale of the shares is expected to close in March. 2022 after receiving approval from the regulatory department The Softbank revealed that Affiliates include the Fund for Investment in Technology of the Company. It acquires the highest 8.1% of Nvidia's stake through a deal in the form of cash and shares.
Softbank acquired Arm in 2016 for $ 30 billion. Softbank currently holds 75% of Arm's shares and the remaining 25% belongs to Soft's Vision Fund. Bank itself as well
Softbank previously announced plans to sell assets of 4.5 trillion yen ($ 4.24 billion) to improve its financial position. This includes the sale of stakes in T-Mobile US Inc. and Alibaba Group Holding.
For the fiscal year 2019, which ended in March, Softbank recorded a record net loss. As a result of a failed investment
Masayoshi Sun, President and CEO of Softbank previously I once said that selling Arm business was one option. At that time it was negotiated.
News channels >> slotxo
