Uber to go ahead with SoftBank deal, to reveal pricing next week

Transport industry news : Ride hailing company Uber Technologies intends to go forward with a deal that will see Japanese technology conglomerate SoftBank Group Corporation as a major investor, reports Reuters.

In this regard, the San Franciso-based local transportation technology company will reveal the pricing next week in formal tender offers to its investors.

Uber Technologies is set to give its investors 2 business days or close to a month’s time to reply to emails and letters that will reach them early next week.

Uber Volvo. Photo courtesy of Uber Technologies Inc.

Earlier this month, SoftBank and Dragoneer Investment Group came to an agreement to lead a consortium that would inject up to $10 billion of investment in Uber Technologies.

The ride hailing company posted ads on Wednesday in a couple of leading US publications which says that interested shareholders looking to be part of the transaction need to be accredited investors in the company as per US regulations definition and should own a minimum of 10,000 Uber shares.