Tokyo, London: SoftBank Group Corp. plans to sell a 25 per cent stake in ARM Holdings Plc to a technology fund it is creating with Saudi Arabia after lead investors expressed a desire to include the chipmaker in their portfolio, according to people familiar with the matter. The Japanese company will receive about $8 billion (Dh29 billion) for the shares, the people said asking not to be identified because the details are private.
The transaction will be separate from the $25 billion SoftBank plans to contribute to Vision Fund, one of the people said. The deal was previously reported by the Financial Times. SoftBank founder Masayoshi Son is in the process creating the $100 billion fund with the Saudis, Abu Dhabi investor Mubadala Development Co. and other backers that would make the Japanese billionaire one of the world’s biggest technology investors.