عربي

Softbank frees up $8B cash for joint-Saudi fund

Arabic

Softbank frees up $8B cash for joint-Saudi fund

Japan’s Softbank Group has sold a stake in UK chip design firm, Arm Holdings, to fund its investment in in the $100 million technology investment fund with Saudi Arabia, according to the Financial Times.

The sale of 25 percent of Softbank’s stake, is expected to net the firm $8 billion, all of which will make up part of its $25 billion commitment to the Softbank Vision Fund. The Japanese company bought the stake in Arm six months ago for $32 billion.

The fund was announced in October last year, and is set to become one of the largest private equity funds in the world.

Saudi Arabia’s Public Investment Fund has committed to investing $45 billion, while the newspaper reported that a deal for a $15 billion investment with Abu Dhabi group Mubadala was close.

Feature image via Pexels.com.

Thank you

Please check your email to confirm your subscription.

Whoops, looks like something went wrong.

(1/1) ErrorException

file_put_contents(): Only 0 of 232 bytes written, possibly out of free disk space

in Filesystem.php (line 122)
at HandleExceptions->handleError(2, 'file_put_contents(): Only 0 of 232 bytes written, possibly out of free disk space', '/var/www/wamda-frontend/vendor/laravel/framework/src/Illuminate/Filesystem/Filesystem.php', 122, array('path' => '/var/www/wamda-frontend/storage/framework/sessions/IOkRtX8H0DBaa0KWreC7a4vKmdK9l94B6pf89ODw', 'contents' => 'a:3:{s:6:"_token";s:40:"N9t3H1G5Fgh6Ar8VSL7u2KFANTHfWSTZlbKPRR2Y";s:9:"_previous";a:1:{s:3:"url";s:74:"http://staging.wamda.com/2017/03/Softbank-to-invest-8B-in-joint-Saudi-fund";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}', 'lock' => true))
at file_put_contents('/var/www/wamda-frontend/storage/framework/sessions/IOkRtX8H0DBaa0KWreC7a4vKmdK9l94B6pf89ODw', 'a:3:{s:6:"_token";s:40:"N9t3H1G5Fgh6Ar8VSL7u2KFANTHfWSTZlbKPRR2Y";s:9:"_previous";a:1:{s:3:"url";s:74:"http://staging.wamda.com/2017/03/Softbank-to-invest-8B-in-joint-Saudi-fund";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}', 2)in Filesystem.php (line 122)
at Filesystem->put('/var/www/wamda-frontend/storage/framework/sessions/IOkRtX8H0DBaa0KWreC7a4vKmdK9l94B6pf89ODw', 'a:3:{s:6:"_token";s:40:"N9t3H1G5Fgh6Ar8VSL7u2KFANTHfWSTZlbKPRR2Y";s:9:"_previous";a:1:{s:3:"url";s:74:"http://staging.wamda.com/2017/03/Softbank-to-invest-8B-in-joint-Saudi-fund";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}', true)in FileSessionHandler.php (line 83)
at FileSessionHandler->write('IOkRtX8H0DBaa0KWreC7a4vKmdK9l94B6pf89ODw', 'a:3:{s:6:"_token";s:40:"N9t3H1G5Fgh6Ar8VSL7u2KFANTHfWSTZlbKPRR2Y";s:9:"_previous";a:1:{s:3:"url";s:74:"http://staging.wamda.com/2017/03/Softbank-to-invest-8B-in-joint-Saudi-fund";}s:6:"_flash";a:2:{s:3:"old";a:0:{}s:3:"new";a:0:{}}}')in Store.php (line 128)
at Store->save()in StartSession.php (line 88)
at StartSession->terminate(object(Request), object(Response))in Kernel.php (line 218)
at Kernel->terminateMiddleware(object(Request), object(Response))in Kernel.php (line 189)
at Kernel->terminate(object(Request), object(Response))in index.php (line 58)