BREAKING NEWS

BREAKING NEWS

SoftBank set to invest in British financing group Greensill

SoftBank set to invest in British financing group Greensill
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo -
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Issei Kato(Reuters)
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(Reuters) - A prospective deal between SoftBank Group Corp's Vision Fund and UK-based financing group Greensill Capital could be announced as early as Monday, a city source told Reuters.

SoftBank Vision Fund is investing $800 million (615.72 million pounds) in Greensill, which provides supply chain funding to companies, Bloomberg reported on Sunday, citing a person familiar with the matter.

The investment values Greensill at $3.5 billion, Bloomberg reported. The company was founded by former banking executive Lex Greensill in 2011.

The Vision Fund was set up in 2017 and has become the world's largest technology investment fund. Its investments have included ride-hailing pioneer Uber, chip designer ARM and shared workspace firm WeWork.

A SoftBank spokesman declined to comment.

(Reporting by Ishita Chigilli Palli in Bengaluru; Editing by Keith Weir)

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