It looks like SoftBank’s long-anticipated investment in Uber is coming to a close.
According to a report from The Wall Street Journal, a SoftBank-led group has almost finalized a deal to own close to 15% of the company. The transaction could be completed as soon as noon today, Pacific time.
The shares purchased from existing shareholders will value the company at roughly $48 billion, a significant discount to the roughly $69 billion that company was valued at in its last private round. As part of the deal, the group will also be investing $1 billion directly in Uber at the $69 billion value.
Shareholders including employees and early investors are expected to sell shares in the deal. Uber has largely restricted the selling of shares until this point.
Uber and SoftBank declined to comment.
Featured Image: ANTHONY WALLACE/Getty Images