Friday, March 23, 2018

SoftBank to buy up to 33% of Swiss Re

SoftBank is in discussions to purchase up to a third of the outstanding shares in Swiss Re.

The move underlines the Japanese firm’s effort to hunt for dependable revenue streams in its goal of funding more acquisitions.

Based on details available, the deal could be valued at about US$10 billion.

In February, Swiss Re said it was engaged in preliminary talks with Softbank.

At the moment, though, it is not yet clear which unit of Softbank will do the investing.

The company has so far created a US$100 billion investment vehicle with several partners.

However, this fund invests primarily in high-tech fields such as automated driving.

In order for SoftBank to generate a steady source of cash to supplement its core mobile phone operations, the parent itself would need to put up the money for Swiss Re.


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