Company Briefs: SoftBank

Deliveroo
Deliveroo PHOTO: REUTERS

SoftBank

SoftBank Group's Vision Fund sold about US$2 billion (S$2.7 billion) in Uber Technologies stock, cashing in after an increase in the ride-hailing giant's shares.

An affiliate of the investment fund, SB Cayman 2, sold 38 million shares last Thursday at an average price of US$53.46, according to a filing with the US Securities and Exchange Commission. SoftBank still holds about 184.2 million shares, according to the filing, worth about US$10 billion at current prices.

It was an aggressive investor in the ride-hailing sector, taking major stakes in China's Didi Chuxing, India's Ola and South-east Asia's Grab.

BLOOMBERG


CapitaLand

CapitaLand Retail China Trust (CRCT) has inked a deal to sell real estate in Wuhan for 258 million yuan (S$53 million) in cash, the manager said on Monday.

The trust is selling CapitaMall Minzhongleyuan and three sets of vacant premises to an unrelated third party, which has also agreed to pay an extra 200 million yuan to cover a shareholder loan and entrustment loans.

The Minzhongleyuan property had been "facing operational challenges in the past few years", said the CRCT manager, citing factors such as roadworks in the area.

THE BUSINESS TIMES


Deliveroo 

Online delivery group Deliveroo plans to expand into around 100 new towns and cities in Britain this year, as it seeks to capitalise on its popularity during the Covid-19 pandemic, it said yesterday.

Demand for home delivery of groceries and restaurant food has soared during the crisis, with the hospitality industry largely closed.

Deliveroo's expansion means around four million more people will be able to access its services for the first time this year, it said.

Amazon owns 16 per cent of Deliveroo's equity.

REUTERS

A version of this article appeared in the print edition of The Straits Times on January 13, 2021, with the headline 'Company Briefs: SoftBank'. Print Edition | Subscribe