TOKYO -- Japanese technology conglomerate SoftBank Group on Wednesday said it would sell its entire stake in Yahoo Japan for 526.5 billion yen ($4.8 billion), in a transaction that effectively transfers ownership to its mobile unit SoftBank Corp.
SoftBank Group will initially sell its 36.08% stake, currently held by a wholly owned subsidiary, to Yahoo. SoftBank Corp. will then buy new shares in Yahoo for 456.5 billion yen to increase its stake from 12.08% to 44.64%. The 70 billion yen gap between SoftBank Group’s sale price and the mobile unit’s purchase price will be financed by Yahoo’s internal cash.
