Acquisition of Brightstar Corp. Shares (Completion of Share Acquisition and Amendment to Previously Disclosed Items)
SoftBank Corp. (“SoftBank”) announced that it completed the share acquisition (the “Transaction”) of Brightstar Corp. of the United States (“Brightstar”), a mobile device distributor, through SoftBank's U.S. subsidiary and made Brightstar a subsidiary on January 30, 2014 (JST).
SoftBank also announced amendments to 2. Transaction Method in the announcement “Acquisition of Brightstar Corp. Shares” dated October 19, 2013.
Ⅰ. About Brightstar
| (1) Name | Brightstar Corp. |
|---|---|
| (2) Address | 9725 NW 117th Ave, #300 Miami, Florida, U.S.A. |
| (3) Name and title of representative | Chairman and Chief Executive Officer Marcelo Claure |
| (4) Nature of business | Mobile device distribution, supply chain solutions, handset protection and insurance, buy-back and trade-in, omnichannel solutions and financial services |
| (5) Common stock share capital | USD 2,000 |
| (6) Founded | September 23, 1997 |
Ⅱ. Amendment
- *The bolded portions indicate the amended terms.
- Before amendment
2. Transaction Method
(1) Brightstar shares will be purchased by SoftBank, through U.S. subsidiaries
- *4Percentages based on voting power and common stock.
- In connection with the Transaction, SoftBank will invest a total of USD 1.26 billion into certain indirectly wholly-owned U.S. subsidiaries.
(omitted)
(2) Exercise of the Warrant
- *5Percentages based on voting power and common stock.
(omitted)
- After amendment
2. Transaction Method
(1) Brightstar shares will be purchased by SoftBank, through U.S. subsidiaries
- *4Percentages based on voting power and common stock.
- In connection with the Transaction, SoftBank will invest a total of USD 1.26 billion into certain wholly-owned U.S. subsidiaries.
(omitted)
(2) Exercise of the Warrant
- *5Percentages based on voting power and common stock.
(omitted)
Ⅲ. Acquisition-related Costs for the Transaction
| (1) Acquisition-related costs (estimate) | Approximately JPY 1.3 billion | |
|---|---|---|
| (2) Recording of the acquisition-related costs | SoftBank anticipates recording the full amount of the acquisition-related costs as selling, general and administrative expenses on its consolidated statements of income under IFRSs for the fiscal year ending March 31, 2014. | |
Ⅳ. Impact on the Financial Results
SoftBank will announce the impact of the Transaction on its financial results, once it has been determined.
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