SoftBank succeeds in tender offer for big stake in Uber
29 December, 2017, 01:49 | Author: Martin Tyler
Uber's shareholders have agreed to sell a 20pc stake to an investor group led by SoftBank, according to The Wall Street Journal, crossing the threshold needed for the deal to complete.
The SoftBank deal triggers new governance terms at Uber that were approved by the company's board in October, though. With this tender offer, Khosrowshahi was able convince some of the company's early powerbrokers, including venture capital firm Benchmark Capital, to whittle down their stakes in the company to bring on what he believes will be a stabilizing force in SoftBank. It marks the first significant piece of business for new CEO Dara Khosrowshahi, who is now preparing the embattled ride-hailing company to go public by 2019. SoftBank will occupy two seats on the company's board and will now be an extremely influential player in decisions at Uber.
SoftBank's investment consortium also includes Dragoneer Investment Group and Tencent Holdings.
The tender offer values Uber at $48bn (£36bn), nearly a third lower than its most recent valuation of $69bn.
"We have tremendous confidence in Uber's leadership and employees and are excited to support Uber".
Some initial investors in the consortium, including General Atlantic, dropped out over disagreement about the price offered to shareholders, Reuters previously reported. In an earlier reportin August, the paper said Uber was losing roughly $9,000 a vehicle, 18 times more than previously believed.
Previously, Merrill has said it is "highly unlikely" that Jones would not be certified as the victor of the election. Moore's campaign was deeply wounded by accusations of sexual misconduct involving teenage girls decades ago.
The Virginia State Board of Elections plans to break the tie picking the candidates' names out of a bowl on Wednesday. If Simonds were to win the seat, Republicans would lose majority control of the House of Delegates after 17 years.
The clashes came amid debate over the removal of statues and memorials commemorating the Confederacy across the country. The group helped organise participants in the deadly white nationalist rally in Charlottesville, Virginia in August.
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Church members and the choir sang Christmas carols and hymns as part of Christmas Eve celebrations from 11 pm. The countrywide political leaders also facilitated the Christian community on the Christmas occasion .
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India and Iran maintain that Jadhav was kidnapped from Iran where he had business interests after retiring from the Indian Navy. Faisal also tweeted that the meeting was arranged in light of "Islamic traditions and based on purely humanitarian grounds".
Eric Garner was killed on July 17, 2014, after he was confronted by police for allegedly trying to sell "loosie" cigarettes. An out-of-court settlement in which the city agreed to pay the Garner family $5.9 million was announced in 2015.
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DFA denies plan to transfer embassy to Jerusalem
"One of the most important topics [of the conversation] was the return of the embassy of Guatemala to Jerusalem". And now, the Israeli government is reporting at least 10 other countries are preparing to make the same decision.
Did Migos Offset cheat on Cardi B?
Along with the two tweets about about the leaked videos , she also retweeted several messages from fans praising the track. Cardi - real name Belcalis Almanzar - was a former Bronx-based stripper with a massive social media following.