SoftBank Group to sell Brightstar in latest asset sale
TOKYO, Sept 18 (Reuters) - SoftBank Group Corp 9984.T said on Friday it would sell U.S. cellphone distributor Brightstar for an undisclosed price, as the Japanese conglomerate divests major assets to raise cash.
The company said in a statement it would sell Brightstar Global Group to a newly formed subsidiary of Brightstar Capital Partners for consideration consisting of cash as well as a 25% stake in the newly formed subsidiary.
The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close by March 31, 2021, SoftBank Group said.
(Reporting by Chris Gallagher; Editing by Muralikumar Anantharaman)
((chris.gallagher@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Latest Markets Videos
Explore US Markets
ExploreMost Popular
- US STOCKS-Wall St plunges as Snap's bleak forecast sparks selloff
- All Fed officials backed May rate hike, 'most' saw half-point rises in June and July, minutes show
- US STOCKS-Wall Street surges on upbeat retail guidance, easing Fed fears
- Fed could cut rates in 2023, 2024 once inflation under control -Bullard