SoftBank Group to sell Brightstar in latest asset sale
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[TOKYO] SoftBank Group Corp said on Friday it would sell US 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 per cent 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.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
