Softbank Group

Despite Khashoggi, Saudi Arabia unlikely to lose U.S. investments

Photo: Bandar Algaloud via Getty Images

Let's call it: Neither SoftBank nor Saudi Arabia will face any significant U.S. investment losses over the murder of journalist Jamal Khashoggi.

Driving the news: Axios has learned from multiple sources that San Francisco-based freight logistics startup Flexport is in talks to raise around $500 million in a SoftBank-led deal. One source puts the pre-money price talk at around $3 billion (another dissents), which could mean the final investment is smaller if either side becomes concerned about CFIUS approvals (which I'd think they would). [Update: A source closer to the situation puts the pre-money closer to $2 billion]

SoftBank agrees to $2 billion WeWork investment

WeWork building
Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

SoftBank has agreed to invest another $2 billion into WeWork, per multiple sources and reports. Expect a large percentage of it to be secondary capital — i.e., buying out existing shareholders.

The state of play: There's lots of buzz about how this deal is much smaller than what was originally contemplated, including one 2018 report whereby SoftBank could acquire a majority stake in the co-working space giant.

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