June 20, 2018 // By Peter Clarke, eeNews Europe
SoftBank Group Corp., the owner of leading IP licensor ARM Ltd., has confirmed that it has agreed to sell a majority stake in ARM's Chinese trading subsidiary to financial investors and certain ARM ecosystem partners.
The move had been previously reported (see Report: Control of ARM's China business passes to JV ) and was thought to include China Investment Corp:, Silk Road Fund, Singapore's Temasak Holdings, ARM, Hopu Investment Management and Shum Yip Group.
SoftBank has now provided more detail in that it has said that ARM will sell 51 percent of its equity interest in Arm China for US$775.2 million to the investors. However, it did not confirm the participants, saying the names were not disclosed at the request of the relevant parties. It said the transaction was expected to close in June 2018.
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