Swiss Re in talks to sell stake to SoftBank
If successful, it would be the Japanese firm's biggest financial services deal to date
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Tokyo
SWISS Re said it is in preliminary talks to sell a minority stake to SoftBank Group, a deal that reportedly could be worth US$10 billion or more, in what would be the Japanese firm's biggest financial services deal to date.
The potential sale of up to one-third of the Swiss reinsurer at a premium as reported by the Wall Street Journal would also mark the broadening of already sky-high ambitions that have already seen it raise US$93 billion to form its Vision Fund for technology investments. "Swiss Re informs that it is engaged in preliminary discussions with SoftBank Group Corp regarding a potential minority investment in Swiss Re," the world's second-largest reinsurer said.
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