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CPPIB to acquire SoftBank's 80% in SB Energy for $425 million

Dec 30, 2020 - The Economic Times
Mergers and Acquisitions

Mumbai: Ending months of negotiations, SoftBank agreed last weekend to sell its entire 80% holding in SB Energy Holdings to Canada Pension Plan Investment Board (CPPIB) for $425 million. An additional $100 million will be paid subject to future outcomes, said people aware of the development. The sale price is much below the $800 million book value or equity invested in the high-profile joint venture and a far cry from the $1.2 billion originally sought.

Bharti Enterprises, the other partn...