CPPIB to acquire SoftBank’s 80% in SB Energy for $425 million

Ending months of negotiations, SoftBank agreed last weekend to sell its entire 80% holding in SB Energy Holdings to Canada Pension Plan Investment Board (CPPIB) for $425 million. An additional $100 million will be paid subject to future outcomes, said people aware of the development.

The sale price is much below the $800 million book value or equity invested in the high-profile joint venture and a far cry from the $1.2 billion originally sought. Read More…