In as little as seven days, a complex agreement may be struck between Uber Technologies Inc. and a consortium of investors for a massive investment in the automatized transport system business, board member Arianna Huffington said on Tuesday in Laguna Beach, California.
The bid, led by Japan's online giant SoftBank Group Corp. was said to have stuck over rights of first refusal. The two sides have apparently made progress in talks for a purchase of a 14% share in the ride-hailing giant via a tender offer, and are still working on pricing. The discount compared to the private valuation could reach 25%, according to unnamed sources who spoke to the Wall Street Journal.
The initiative, which includes Dragoneer Investment Group, concerns up to $10 billion of fresh capital, which would also buy a package of lower class of shares, media reports indicated. The size also depends on how big a stake existing owners are ready to sell. Dara Khosrowshahi, the new chief executive, "handles whatever comes his way," Huffington claimed. India's ANI Technologies Pvt. Ltd., or Ola Cabs, last week raised $1.1 billion from Tencent Holdings Ltd. and SoftBank, an existing investor.
