[ad_1]
NEW YORK : SoftBank Group Corp has acquired the 25 per cent stake in Arm Ltd it does not directly own from its Vision Fund unit in a deal that values the chip designer at $64 billion, according to people familiar with the matter.
Details of the transaction will be unveiled on Monday when Arm makes public the filing for its blockbuster stock market launch, the sources said, requesting anonymity as these discussions are confidential.
SoftBank is now expected to sell fewer Arm shares in the initial public offering (IPO) and would likely be retaining a stake of as much as 90 per cent in the company, according to the sources, adding that Arm’s capital raise from the IPO will be less than the range of $8 billion to $10 billion it was earlier planning.
[ad_2]
