Completion of Sale of All Shares in Subsidiary Brightstar Global Group Inc.
SoftBank Group Corp. (“SBG”) announced the completion on October 22, 2020 (U.S. time) of the sale of all of its shares in wholly owned subsidiary Brightstar Global Group Inc. (“BGG”), which is held through its wholly owned subsidiary (the “Transaction”), as announced in “Sale of All Shares in Subsidiary Brightstar Global Group Inc.” dated September 18, 2020. Upon completion of the Transaction, as of October 22, 2020, BGG and its wholly owned subsidiary Brightstar Corp. ceased to be subsidiaries of SBG and are no longer consolidated into SBG’s financial results.
As part of the consideration for the Transaction, SBG has received a 25% (fully diluted basis) stake in a newly formed subsidiary of Brightstar Capital Partners which acquired all the shares of BGG, as previously announced.
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