SoftBank is aiming to acquire shares from existing investors in Flipkart, valuing the business at $9bn to $10bn for the deal.
Telecoms and internet conglomerate SoftBank has offered to acquire shares from existing investors and staff of India-based e-commerce company Flipkart, Mint reported today citing people familiar with the matter.
The secondary transaction, managed by Goldman Sachs, would value Flipkart at $9bn to $10bn, with SoftBank hoping to purchase shares at $85 to $89.
Tiger Global Management, currently Flipkart’s largest shareholder, is expected to sell $700m worth of shares but will retain approximately 20% of stock. Tiger’s willingness to sell was…
