Lennar, SoftBank, Access Industries and Alphabet are set to score exits from the real estate transaction manager, valued at $4.8bn in the deal.

Opendoor, the US-based real estate transaction platform backed by corporates Lennar, SoftBank, Access Industries and Alphabet, agreed to a reverse merger deal yesterday that values it at $4.8bn.

The company will merge with Social Capital Hedosophia Holdings Corp II (SCH), a special purpose acquisition vehicle that floated in April this year in a $360m initial public offering, and will take the latter’s listing on the New York Stock Exchange.

The deal will be boosted by $414m held in SCH’s trust…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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