SoftBank Corp. (TYO:9434) has advanced to the second round of bidding for Blackstone's payments provider SP.LINKS, as the investment giant looks to sell the business for a profit just over two years after acquiring it, Bloomberg News reported on Thursday.
The telecom unit of SoftBank Group is among the parties on the shortlist, alongside a private equity fund, with second-round offers expected around mid-July at a target price of roughly 100 billion yen, the news wire said.
Blackstone bought an 80% stake in SP.LINKS, originally Sony Payment Services, from Sony Group in January 2024 for about 40 billion yen, the report said.
The ultimate sale price could shift depending on whether Sony Bank, which holds 20% of SP.LINKS, agrees to sell its stake as part of the transaction, the publication said.
SoftBank didn't immediately respond to a request from MT Newswires for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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