GM buys SoftBank Vision Fund's stake in Cruise for $2.1 bln

Reuters2022-03-19

March 18 (Reuters) - General Motors said on Friday it had entered into a deal with SoftBank Vision Fund and certain of its affiliates to acquire the fund's ownership stake in GM Cruise Holdings LLC for $2.1 billion.

The company said it will make an additional investment of $1.35 billion in Cruise, a self-driving technology company.

Following the deal, GM will own about 80% in Cruise, a subsidiary of the automaker, leaving SoftBank with no ownership interest or rights, it said in a securities filing.

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Comments

  • Mm101
    2022-03-21
    Mm101
    B
  • Hmmmmmm
    2022-03-19
    Hmmmmmm
    Cool
  • zero79
    2022-03-19
    zero79
    Good 
  • KeeBoonTong
    2022-03-19
    KeeBoonTong
    Lalalala
  • ZenInv
    2022-03-19
    ZenInv
    Fueled with cheap debt, Softbank's investment has not turned so bright after all. 
  • WilliamFish
    2022-03-19
    WilliamFish
    O
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